Board appoints CEO Hatfield as new chairman
Edgewell said Friday that Klein will step down on July 6, with Hatfield becoming chairman and retaining his position as president and CEO. R. David Hoover, lead independent director of the Edgewell board, will continue in that role.
“I feel deeply privileged to have served at Energizer, and as executive chairman of Edgewell during its first year as an independent public company,” Klein stated. “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 stand-alone 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.”
Klein’s retirement follows 37 years of service at Edgewell and its predecessor company, Energizer Holdings Inc. He previously served as CEO of Energizer from 2005 through the separation of Edgewell and Energizer in July 2015. As Energizer’s CEO, Klein grew the company’s sales from $2.9 billion in 2005 to $4.1 billion in 2015.
“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,” Hatfield commented.
“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 stand-alone 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.”
Edgewell’s roster of brands includes Schick and Wilkinson Sword men’s and women’s shaving systems and disposable razors; Edge and Skintimate shave preparations; Playtex, Stayfree, Carefree and o.b. feminine care products; Banana Boat and Hawaiian Tropic sun care products; Playtex infant feeding, Diaper Genie and gloves; and Wet Ones moist wipes.