Energizer Exec Klein Likely To Offer Smooth Management Transition
This article was originally published in The Rose Sheet
Executive Summary
Energizer chief operating officer and longtime executive Ward Klein will take over leadership of the firm as CEO, succeeding Pat Mulcahy, who will retire following the firm's annual shareholder meeting on Jan. 25, the firm announced Nov. 2
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Blade and razor sales grew 12% to $228.2 mil. in the fiscal first quarter (ended Dec. 31), driven by performances of Schick Quattro and Intuition, company reports Jan. 25. Profit for the division jumped 20% to $41.4 mil. Consolidated sales increased 8%, or 5% on a constant currency basis, to $875.9 mil., and net earnings were $121.7 mil., or $1.62 per diluted share, up 6% versus the prior year. Release of firm's first quarter results coincides with start of Ward Klein's tenure as CEO. Energizer announced Klein, who previously served as chief operating officer, would succeed CEO Pat Mulcahy last year (1"The Rose Sheet" Nov. 8, 2004, p. 7)...
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