Colgate Elects CEO Noel Wallace as Board Chairman

Colgate-Palmolive Company (NYSE:CL) today announced that, consistent with previously announced succession plans, after more than 44 years of service to Colgate, Mr. Ian Cook will retire as Chairman of the Board and a director of Colgate-Palmolive Company, and that the Board of Directors has unanimously elected Mr. Noel Wallace, currently President and Chief Executive Officer and a member of the Board of Directors, to the additional role of Chairman of the Board, both effective April 1, 2020.

Mr. Wallace, speaking on behalf of the Board of Directors said, “We are extremely grateful for Ian’s outstanding leadership of Colgate’s Board as its Chairman and of the Company as its CEO. He has the deep gratitude of all Colgate people for his highly effective, principled leadership and my warm thanks for his guidance and support over our leadership transition.”

Colgate also announced that Martina Hund-Mejean, former Chief Financial Officer of Mastercard Inc., has been elected to Colgate's Board of Directors, effective March 11, 2020. Ms. Hund-Mejean brings extensive financial and business leadership experience from her 11 years as CFO of Mastercard. Prior to joining Mastercard, Ms. Hund-Mejean served as Senior Vice President and Treasurer at Tyco International Ltd. and at Lucent Technologies Inc., and held a series of finance positions of increasing responsibility at General Motors Company.

Separately, the Company announced that the Board of Directors had accepted the resignation of Charles A. Bancroft, Executive Vice President, Head of Integration and Strategy & Business Development of Bristol-Myers Squibb Company, who served on Colgate's Board of Directors since 2017. The Directors extended to Mr. Bancroft their sincere thanks for all of his contributions.

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About Colgate-Palmolive: Colgate-Palmolive is a leading global consumer products company, focused on Oral Care, Personal Care, Home Care and Pet Nutrition. With more than 34,000 people and its products sold in over 200 countries and territories, Colgate is known for household names such as Colgate, Palmolive, elmex, Tom’s of Maine, Hello, Sorriso, Speed Stick, Lady Speed Stick, Softsoap, Irish Spring, Protex, Sanex, Filorga, EltaMD, PCA Skin, Ajax, Axion, Fabuloso, Soupline and Suavitel, as well as Hill’s Science Diet and Hill’s Prescription Diet. The Company is also recognized for its leadership and innovation in promoting environmental sustainability and community wellbeing, including its achievements in saving water, reducing waste, promoting recyclability and improving the oral health of children through its Bright Smiles, Bright Futures program, which has reached more than one billion children since 1991. For more information about Colgate’s global business and how the Company is building a future to smile about, visit http://www.colgatepalmolive.com. CL-C

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