Dive Brief:
- Colgate-Palmolive promoted David Foster to CIO after serving as VP of global application development, according to a company LinkedIn post Tuesday.
- Foster will lead the company’s global IT team and digital transformation efforts, according to the post. Colgate-Palmolive did not respond to a request for comment prior to publication.
- Former CIO Mike Crowe retired after 34 years with the company. As CIO, Crowe created technology partnerships and improved the company’s global IT software development capabilities, according to a Colgate-Palmolive LinkedIn post Tuesday.
Dive Insight:
Foster is moving up the ranks alongside new CTO Stephan Habif, who was appointed as CTO in Sept. Habif previously worked at L’Oreal and Unilever. He took over the position after Patricia Verudin retired, ending a 15-year stint with the company, according to a company LinkedIn post.
Habif is responsible for the company’s global research and development organization and is planning to use technology to increase innovation, efficacy and sustainability, according to Colgate-Palmolive’s CEO Noel Wallace in a press release.
Like many companies, Colgate-Palmolive has tried to mitigate costs. In May 2022, the company faced “greater-than-expected” increases in raw material costs, Wallace said during the company’s Q1 earnings call.
Last year, the company’s data and analytics team worked to mitigate the effects of elasticities as high prices persisted.
“Revenue growth management is another capability we are scaling across the organization,” Wallace said during the company’s Q3 earnings call in Oct., according to a Seeking Alpha transcript. “We are putting the full force and effort of our data and analytics team into our RGM planning. We believe this is also helping us to make RGM’s decisions to help to lessen the impact of elasticities.”
