Colgate-Palmolive Company has announced the appointment of Stanley J Sutula as its new chief financial officer.
He will succeed Henning Jakobsen, who is to retire on 31 December 2020.
Sutula is a skilled professional with extensive experience in corporate finance, financial planning and operations, tax, strategic planning, and risk management.
He currently serves as the executive vice-president and chief financial officer of the American technology company Pitney Bowes Inc.
He was instrumental in helping the company deliver three consecutive years of constant-currency revenue growth through the use of technology and data analytics, Colgate added.
Noel Wallace, chairman, president and CEO of Colgate, said, “We look forward to Stan’s leadership as CFO, as he brings deep technical expertise from his proven track record leading finance and shaping business strategy at Pitney Bowes, and his many years at IBM.”
Sutula joined Pitney Bowes in 2017 after a 28-year stint at IBM Corporation, where he led large, global, corporate, and business units.
He held several financial management roles in the company and went on to become IBM’s vice-president and controller.
Jakobsen was appointed as the CFO of Colgate in 2018 after serving as vice-president and corporate controller between October 2017 to May 2018.
Wallace commented, “Colgate is deeply grateful for Henning [Jakobsen]’s business and financial leadership as CFO and throughout his leadership career at Colgate. We have benefited from his broad international business knowledge and financial acumen.”
He joined Colgate in 1989 and held key financial positions for the company's European and North American business units.
He took up the role of the chief financial officer of the Denmark-based multinational bioscience firm Chr. Hansen in 2006 and returned to Colgate in 2011.
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