Church & Dwight Announces CEO Transition
16 Septiembre 2024 - 3:30PM
Business Wire
Rick Dierker to be promoted to CEO as of March
31, 2025 Matt Farrell to Continue as Chairman Through Transition
Period
The Board of Directors of Church & Dwight Co., Inc. (NYSE:
CHD) today announced that, after a unanimous vote of its Board of
Directors, Richard Dierker, a 15-year veteran of the Company, will
be promoted to President and Chief Executive Officer (CEO) and
elected to the Board of Directors effective March 31, 2025. Matthew
Farrell will continue to serve as President and CEO until then, and
will continue to serve as Chairman of the Board for a transition
period.
“Matt Farrell has been a high-integrity, people-focused leader
for Church & Dwight. Under his leadership, Church &
Dwight’s market cap has more than doubled to over $25 billion with
industry leading TSR. He and his team have successfully integrated
value-accretive acquisitions. The Company’s power brands continue
to lead and grow by leveraging consumer trends to build
insight-driven innovations, breakthrough omnichannel initiatives,
and strong customer relationships. Matt has left an indelible mark
on Church & Dwight and the Board is grateful for his immense
contributions,” said Ravi Saligram, Lead Director of the Board.
Mr. Saligram continued, “We are delighted to appoint Rick
Dierker as our new CEO. As CFO and Head of Operations, Rick has
closely partnered with Matt over the last decade to oversee the
development of the Company’s strategy and key elements of our
operations, helping to accelerate the Company’s trajectory and
breakthrough performance. Rick has an innate ability to get to the
heart of issues and drive execution, and will sustain Church &
Dwight’s culture. He has the trust and respect of his peers, the
Board and the investment community. The Church & Dwight Board
undertook a comprehensive process looking both externally and
internally and unanimously concluded that Rick is the right leader
to evolve Church & Dwight’s highly successful model and lead us
into the future. We are confident Rick will build on Matt’s
legacy.”
Mr. Farrell said, “I have worked closely with Rick for 15 years
and know he is uniquely positioned to be our next CEO. Rick has the
strategic thinking, leadership skills, and passion for execution to
sustain our Evergreen model, our acquisition strategy, and value
creation for years to come. I’d like to thank the whole team at
Church & Dwight for always putting the Company and consumer
first, and working tirelessly to discover and innovate new products
and enhance our capabilities.”
Mr. Dierker said, “I am honored to have the opportunity to lead
this great company and continue to create shareholder value through
innovation, technology, and accretive acquisitions. The Church
& Dwight team exhibits a rare blend of creativity, initiative,
curiosity, and desire to win. That’s our secret sauce. We have a
talented team and great brands. This amounts to a winning formula
for employees, consumers, and shareholders and gives me great
confidence in our future success.”
About Church & Dwight
Church & Dwight Co., Inc., founded in 1846, is the leading
U.S. producer of sodium bicarbonate, popularly known as baking
soda. The Company manufactures and markets a wide range of personal
care, household, and specialty products under recognized brand
names such as ARM & HAMMER®, OXICLEAN®, VITAFUSION®, BATISTE®,
WATERPIK®, THERABREATH® and HERO®. These seven key brands represent
approximately 70% of the Company’s products sales. For more
information, visit the Company’s website.
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Church & Dwight Co., Inc. Jill Solomon 609-806-3391
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