- Colgate-Palmolive (NYSE:CL) has promoted two company veterans as part of a plan to line up an eventual successor to CEO Ian Cook, Dow Jones reports.
- Justin Skala and Noel Wallace will assume co-COO roles starting on Friday, and are now considered the front runners to succeed Cook, who is expected to step down within the next five years, according to the report.
- Skala will oversee North America, Europe, Africa and global sustainability, while Walllace will be in charge of global innovation and growth and the company’s Hill’s pet food line.
- Fabian Garcia, a third potential successor to Cook, is resigning as COO to become CEO of Revlon, as he was said to believe that Cook did not plan to retire soon.