The Colgate-Palmolive Company (NYSE:CL) today announced that Javier G. Teruel, Vice Chairman, has elected to retire on April 1, 2007 after 35 years of service.
Mr. Teruel made major contributions to Colgate in senior operating and corporate roles around the world. He has served since 2004 as Vice Chairman with responsibility for reviewing and sharpening the Company's worldwide strategy and implementing Colgate's successful business building and restructuring program. He has overseen corporate functions including Research & Development, Information Technology, Supply Chain, and Global Procurement, as well as the operations of the Company's Hill's Pet Nutrition business. Mr. Teruel began his Colgate career in 1971 in CP-Mexico, the Company's largest subsidiary outside the U.S., and served as its President from 1993 to 1997, growing sales and profits significantly. Mr. Teruel was President of CP-Europe from 1997 to 2000. He has served since 2005 as a Director of Starbucks Corporation.
Mr. Teruel is returning to his native Mexico. His current responsibilities will be assumed by other senior Colgate executives.
Reuben Mark, Chairman and CEO, commented, "We are extremely grateful for Javier's many outstanding contributions to Colgate's long-term success and wish him and his wife Ofé much happiness in the future."