Clorox CFO Kevin Jacobsen Announces Retirement
In a significant corporate transition, The Clorox Company (NYSE: CLX) shared the news of long-serving Chief Financial Officer Kevin Jacobsen's retirement. After nearly three decades with Clorox, Jacobsen plans to step down, with his retirement taking effect soon. This transition signals important changes at the financial helm of the company.
Luc Bellet Appointed as New CFO
Luc Bellet, who has been with The Clorox Company for 18 years, is set to replace Jacobsen as Chief Financial Officer. Working together, Jacobsen and Bellet will ensure a smooth transition, emphasizing continuity in leadership. Bellet's extensive experience within the organization prepares him well for this high-profile role.
Kevin Jacobsen's Legacy
Since joining the company in 1995, Kevin Jacobsen has contributed significantly to Clorox's growth and strategic initiatives. As CFO since 2018, Jacobsen spearheaded the IGNITE strategy, which played a crucial role in reshaping the company’s portfolio. His leadership has delivered impressive financial results and bolstered total shareholder returns, stemming from effective margin transformation efforts.
CEO's Acknowledgment
Linda Rendle, Chair and CEO of Clorox, expressed heartfelt gratitude towards Jacobsen for his leadership and partnership throughout the years. "Kevin has been instrumental in driving our overall transformation and execution of our IGNITE strategy," she said. With a solid foundation established by Jacobsen, Rendle is confident that Bellet will build on this legacy to foster profitable growth and enhance shareholder value.
Bellet's Experience and Vision
Bellet will officially take on the role of executive vice president and CFO on the day Jacobsen departs. Currently serving as Clorox's treasurer, Bellet has demonstrated his capabilities through leadership roles across various financial functions such as financial planning and analysis, internal audit, and business development. His breadth of experience positions him as an ideal choice to lead the company into its next chapter.
Future Outlook
Reflecting on Clorox's current standing, Jacobsen stated, "Our business is in a position of operational strength and we're embarking on an important phase of growth through our digital transformation." He believes Bellet’s rich experience will be crucial as the company navigates the changing landscape of the industry.
Transition Period and Advisory Role
Jacobsen will continue to fulfill his duties as CFO until the transition on the effective date. Following his departure, he will remain with Clorox in a consulting capacity, offering valuable insights until his full retirement in June. This planned approach underlines Clorox's commitment to thoughtful succession planning and leadership development.
About The Clorox Company
The Clorox Company (NYSE: CLX) is dedicated to championing wellness and thriving lifestyles for individuals every day. Renowned brands under its umbrella include Brita, Burt's Bees, Clorox, Fresh Step, Glad, Hidden Valley, Kingsford, Liquid-Plumr, and Pine-Sol, alongside international offerings such as Clorinda, Chux, and Poett. Headquartered in Oakland since its inception in 1913, Clorox stands out as a pioneer in integrating environmental, social, and governance (ESG) principles into its business operations. Recently, the company earned the prestigious recognition of ranking No. 1 on Barron's 100 Most Sustainable Companies list for the second consecutive year. For further information, please visit the company’s website.
Frequently Asked Questions
Who is the new CFO of Clorox?
Luc Bellet has been appointed as the new Chief Financial Officer of Clorox, succeeding Kevin Jacobsen.
When did Kevin Jacobsen join Clorox?
Kevin Jacobsen joined Clorox in 1995 and has served as CFO since 2018.
What is the IGNITE strategy at Clorox?
The IGNITE strategy focuses on transforming Clorox’s operational framework to enhance financial performance and shareholder value.
When will the leadership transition occur?
The transition will officially take place on the date of Jacobsen's retirement, which is on April 1.
What notable brands are owned by The Clorox Company?
Clorox's portfolio includes well-known brands like Brita, Clorox, Burt's Bees, and Kingsford, among others.
