ST. LOUIS, April 29, 2016 /PRNewswire/ -- Edgewell
Personal Care Company (NYSE: EPC) today announced that Ward M. Klein has informed the Board of
Directors of his decision to retire as Executive Chairman and step
down from the Board, effective July 6,
2016. The Edgewell Board appointed David P. Hatfield, Edgewell's President and
Chief Executive Officer, to succeed Mr. Klein as Chairman of the
Board. Mr. Hatfield will continue to serve as President and Chief
Executive Officer. R. David Hoover,
Lead Independent Director of the Edgewell Board, will continue in
this role.
Mr. Klein's retirement follows 37 years of service to Edgewell
and its predecessor company, Energizer Holdings Inc. Mr. Klein
previously served as Chief Executive Officer of Energizer from 2005
through the successful separation of Edgewell and Energizer in July
2015. As Energizer's Chief Executive Officer, Mr. Klein grew
the Company's sales from $2.9 billion
in 2005 to $4.1 billion in 2015 and
increased Total Shareholder Return (Stock price plus dividends) in
excess of 10% per year during that time. Under Mr. Klein's
leadership, Energizer implemented a number of value enhancing
actions, including executing numerous acquisitions, undertaking a
significant multi-year cost reduction initiative in 2012 and
completing the separation of Energizer Holdings into two
independent publicly-traded companies.
"I feel deeply privileged to have served at Energizer, and as
Executive Chairman of Edgewell during its first year as an
independent public company," said Mr. Klein. "Working closely
with the talented management team and Board of Directors, we helped
grow and transform Energizer into a leading consumer products
company. We then successfully separated the two divisions into
standalone global businesses all with the goal of creating
significant value for our shareholders. Over the last year, I have
supported David Hatfield and the
Edgewell Board of Directors to position Edgewell as a strong,
independent company, and now is the right time for me to retire. I
am leaving Edgewell in capable hands with a deeply talented
management team, under David's proven leadership. I know Edgewell
will continue to thrive and create shareholder value and I remain
committed to ensuring a smooth transition."
David P. Hatfield, Edgewell's
President and Chief Executive Officer, said, "On behalf of everyone
at Edgewell, we are grateful to Ward
Klein for his astute leadership and counsel, his tireless
efforts to grow Edgewell and Energizer, and his countless
contributions to both companies. Ward was a driving force
behind the growth of the Personal Care business during his tenure
as Energizer's CEO and positioning Edgewell on its positive
trajectory as a standalone public company this past year. I am
honored the Edgewell Board chose me to succeed Ward as Chairman and
I will continue to work closely with my fellow directors and
outstanding management team as we execute Edgewell's strategy for
future growth and value creation."
About Ward M. Klein
Mr.
Klein served Edgewell and Energizer for more than 30 years — in
both international and domestic leadership positions. Mr. Klein was
appointed Chief Executive Officer, Energizer Holdings, Inc. in
2005. Prior to that time, he served as Energizer's President and
Chief Operating Officer, as President, International, and as Area
Chairman, Asia Pacific and
Latin America. He also is lead
independent director of Caleres, Inc. and former President and
Chairman of Civic Progress St. Louis. Mr. Klein is formerly a
director of AmerUs Group Co. and served as Chairman of the
Board of the Federal Reserve Bank of St. Louis.
About Edgewell Personal Care
Edgewell is a leading
pure-play consumer products company with an attractive, diversified
portfolio of established brand names such as Schick(R) and
Wilkinson Sword(R) men's and women's shaving systems and disposable
razors; Edge(R) and Skintimate(R) shave preparations; Playtex(R),
Stayfree(R), Carefree(R) and o.b.(R) feminine care products; Banana
Boat(R) and Hawaiian Tropic(R) sun care products; Playtex(R) infant
feeding, Diaper Genie(R) and gloves; and Wet Ones(R) moist wipes.
The Company has a broad global footprint and operates in more than
50 markets, including the U.S., Canada, Mexico, Germany, Japan and Australia, with 6,000 employees worldwide.
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SOURCE Edgewell Personal Care Company