Board Composition & Leadership

Board Composition and Leadership

Board Composition
As a global, diverse consumer products company, we strive to reflect the diversity of our workforce and our consumers in our boardroom. Not only do our Directors bring to the Board significant and varied leadership skills and experiences, they represent a mix of background, age, gender, race and life experience that informs their leadership and strengthens their oversight.

6/12 (50%)

Directors are women

4/12 (33%)

Directors are racially/ethnically diverse

5/12 (42%)

Directors joined within the last two years

6/12 (50%)

Directors have served fewer than six years, with average tenure of less than six years

8/12 (67%)

Directors are current or former public company CEOs

Data as of November 2021
Board Leadership

The Company’s Board retains discretion to determine whether the same individual should serve as both Chief Executive Officer (“CEO”) and Chairman of the Board or whether the roles should be separated. This approach allows the Board to use its considerable experience and knowledge to elect the most qualified Director as Chairman of the Board, while maintaining the ability to separate the Chairman of the Board and CEO roles when appropriate, as the roles have been in previous periods.

The Board regularly considers this discretionary structure and whether to combine or separate the roles, depending on which leadership structure best serves the Company and its shareholders. The Board believes this discretion, including the flexibility to make this determination at any given point, best enables it to promote the long-term interests of the Company and its shareholders.

When the Board determines that the same individual should hold the positions of CEO and Chairman of the Board or if the Chairman of the Board is not independent, the independent Directors of the Board elect for an annual term a Lead Director from among the independent Directors. The Lead Director role is significant, with responsibilities consistent with accepted best practices, including: