Clorox names new CEO, beats estimates on pandemic-led demand – ZAWYA

Clorox names new CEO, beats estimates on pandemic-led demand – ZAWYA

Clorox names new CEO, beats estimates on pandemic-led demand Clorox said net sales rose to $1.98bln from $1.63bln in the fourth quarter ended June 30    Clorox Co on Monday named longtime executive Linda Rendle its new chief executive officer, and reported quarterly earnings that beat estimates as the COVID-19 pandemic had people rushing to buy its bleaches and disinfectants.CEO Benno Dorer will step down next month, but continue to chair Clorox's board. Rendle, who is currently the company's president, has held several roles at Clorox over the past 17 years, including leading global operations for its cleaning business. Rendle will be one of two female CEOs in the consumer goods industry, the other being Hershey CEO Michele Buck."We think it was well anticipated that Ms. Rendle was next in line to lead the company, but think the timing of that change will have come sooner than expected, with Mr. Dorer 6 years into his role," Barclays analyst Lauren Lieberman said.CEO Benno Dorer will step down next month, but continue to chair Clorox's board. Rendle, who is currently the company's president, has held several roles at Clorox over the past 17 years, including leading global operations for its cleaning business.