OAKLAND, Calif., — June 19, 2003 — The Clorox Company (NYSE:CLX)
(PSE:CLX) today announced that Gerald E. "Jerry" Johnston,
55, has been named chief executive officer and elected to the
company's board of directors, effective July 1, 2003. Johnston
succeeds G. Craig Sullivan who will continue to serve as the company's
chairman until his Dec. 31, 2003, retirement.
Commenting on the announcement, Sullivan said, "In accordance with corporate
governance best practices, in addition to considering Jerry, the
board conducted a comprehensive external search. That process
confirmed the board's belief that Jerry is the right person to
lead the company forward. I'm truly delighted to have such a strong
leader with great breadth of experience take the helm at Clorox.
Jerry Johnston is exceptionally well-equipped to build on Clorox's
positive momentum, to drive sustainable growth and to create long-term
shareholder value."
Johnston has served as president and chief operating officer since February
1999. In that role, he has been responsible for Clorox's U.S.
and international operating divisions, along with the company's
sales, marketing, product supply, and research and development
functions.
Johnston joined Clorox in 1981, following 10 years with The Procter &
Gamble Company. In 1983, he assumed the post of national sales
manager for the Kingsford® Products Division. Then, in 1989,
he became the company's director of business development. He was
elected vice president-corporate development and planning in 1992,
vice president-general manager for Kingsford® Products Division
in 1993, and group vice president and a member of the company's
executive committee in 1996.
"I'm honored to have the opportunity to lead the Clorox organization
as we build on our strong track record," said Johnston. "Clorox
is a great company with an excellent portfolio of strong brands
and many talented people around the world. Together, we will remain
squarely focused on our goal of delivering healthy, consistent
growth."
Conference Call and Webcast Today
Today, at 10:30 a.m. Pacific time (1:30 p.m. Eastern time), Clorox will
host a live audio webcast of a brief conference call with the
investment community regarding this announcement. The webcast
can be accessed at www.thecloroxcompany.com/investors.
Following the live discussion, a replay of the webcast will be
archived for one week on the company's Web site.
The Clorox Company
The Clorox Company is a leading manufacturer and marketer of consumer
products with fiscal year 2002 revenues of $4 billion. Clorox
markets some of consumers' most trusted and recognized brand names,
including its namesake bleach and cleaning products, Armor All®
and STP® auto care products, Fresh Step® and Scoop Away®
cat litters, Kingsford® charcoal briquets, Hidden Valley®
and K C Masterpiece® dressings and sauces, and Glad® bags,
wraps and containers. With 9,500 employees worldwide, the company
manufactures products in 25 countries and markets them in more
than 100 countries. Founded in 1980, The Clorox Company Foundation
has awarded grants totaling more than $51 million to nonprofit
organizations, schools and colleges; and in fiscal 2002 made product
donations valued at nearly $5 million. For more information about
Clorox, visit the company's Web site at www.thecloroxcompany.com.
Except for historical information, matters discussed above, including
statements about future volume, sales and earnings growth, profitability,
costs, cost savings or expectations, are forward-looking statements
based on management's estimates, assumptions and projections.
Important factors that could cause results to differ materially
from management's expectations are described in "Forward-Looking
Statements and Risk Factors" and "Management's Discussion
and Analysis of Financial Condition and Results of Operation"
in the company's SEC Form 10-K for the year ended June 30, 2002,
as updated from time to time in the company's SEC filings. Those
factors include, but are not limited to, general economic and
marketplace conditions and events; the company's costs, including
the impact of world events on raw material costs and/or supply
disruption; risks inherent in litigation and international operations;
the success of new products; the company's ability to manage and
obtain the benefits of joint venture activities; the success of
information systems design and implementation; integration of
acquisitions; and environmental, regulatory and intellectual property
matters.