Colgate-Palmolive CFO Dennis Hickey leaves post

  • Push-out Score suggests push-out forces
  • After around seven years in the position
  • Praise and thanks for Hickey
  • Henning Jakobsen taking over
  • Hickey will remain as Vice Chairman at Colgate-Palmolive

(exechange) — New York, May 4, 2018 — Dennis Hickey, finance chief of Colgate-Palmolive, leaves the position. As announced by Colgate-Palmolive Company in a news release and in a regulatory filing published on Friday, May 4, 2018, Dennis J. Hickey leaves his post as Chief Financial Officer at the consumer products company after around seven years in the position.

The exact date of Hickey’s departure was not given in the announcement.

Hickey’s duties will be taken over by Henning I. Jakobsen, most recently Vice President and Corporate Controller of Colgate-Palmolive Company.

Colgate-Palmolive Company still listed Hickey as Chief Financial Officer on its leadership page.

No reason given

In the announcement, Colgate-Palmolive did not explicitly explain the reason for Hickey’s move, leaving room for speculation.

Hickey will remain as Vice Chairman at Colgate-Palmolive

“Mr. Hickey will assume the role of Vice Chairman,” Colgate-Palmolive said.

“Succeed”

Colgate-Palmolive said: “Colgate-Palmolive Company … announced today the appointment of Henning Jakobsen, currently Vice President and Corporate Controller, to succeed Dennis Hickey, as Chief Financial Officer.”

Colgate-Palmolive further said: “On May 4, 2018, the Board of Directors of Colgate-Palmolive Company … elected Mr. Henning I. Jakobsen to the position of Chief Financial Officer.”

Share price decline

The change follows a decline in the share price of Colgate-Palmolive Company since April 17, 2018.

Chaired by Ian Cook

Colgate-Palmolive Company is chaired by Ian Cook.

Ian M. Cook has been the Chief Executive Officer and President of Colgate-Palmolive Co. since July 1, 2007.

In the position of CFO since 2011

Hickey became CFO in January 2011, having most recently been Colgate-Palmolive’s Vice President and Corporate Controller since 1998.

Since joining Colgate-Palmolive in 1977, Hickey has held key financial positions for the Company’s European and North American business units, the Corporate Audit unit and a variety of business strategy leadership assignments.

Hickey, a CPA, is a graduate of Baruch College.

Push-out Score suggests push-out forces

It is not completely certain what forces eventually triggered Dennis Hickey’s move.

The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.

Read the full story in the exechange report 19.2018 ($).