Colgate-Palmolive announced on Monday that Noel Wallace will replace Ian Cook as chief executive in April.
Mr Cook, who has led Colgate-Palmolive since 2007, will remain with the company as executive chairman for up to 12 months to assist with the transition.
Mr Wallace, the consumer products group’s current chief operating officer, will assume the role of CEO beginning April 2. He has held several roles at Colgate-Palmolive since joining the New York-based company in 1987. He was named president and COO in July 2018 and previously ran the toothpaste maker’s North American operations.
“Noel is a truly outstanding leader who is extremely well-prepared to lead Colgate after a highly successful 32-year career guiding Colgate businesses all around the world,” Mr Cook said in a statement.
Shares in the company were down 0.2 per cent at $65.68 in after-hours trading.