Colgate-Palmolive appoints new member of board of directors

Colgate-Palmolive has announced the appointment of Charles Bancroft as a new member of its board of directors, effective as of January 1st 2017.

Mr Bancroft is the executive vice-president, chief financial officer and global business operations head of the pharmaceutical company Bristol-Myers Squibb, a company he has been with since 1984.

He can offer extensive leadership experience and financial expertise to Colgate's board both from his time with Bristol-Myers Squibb and from his work with previous employers such as KPMG.

The company has also announced that Richard Kogan, former president and chief executive officer of Schering-Plough, will not stand for re-election to the board at the company's Colgate's 2017 annual meeting.

Colgate has praised his work in helping to oversee a number of key personnel and organisational matters, including executive compensation.

Ian Cook, chairman, president and chief executive officer, said: "We are delighted to welcome Charlie and his outstanding capabilities to our board. Dick Kogan has our profound thanks for his immeasurable contributions to Colgate's business success and governance excellence."

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