Kotchka to resign from P&G
CINCINNATI Procter & Gamble announced on Wednesday that Claudia Kotchka, vice president of design innovation and strategy, will retire effective March 31, 2009 after more than 31 years of service.
Until that time, effective Aug. 1, 2008, Kotchka will serve as vice president on special assignment.
“Under Claudia’s leadership, in only seven years, we’ve built world-class design capacity at P&G,” stated A.G. Lafley, chairman and chief executive officer. “She has helped integrate design and design thinking into how we innovate and how we operate as a company. Her passion for the power of design has strengthened our brands and our business.”
Also on Aug. 1, Philip Duncan, currently president of the Europe and Middle East region for Landor Associates, will be appointed global design officer. Duncan will report to Lafley.
Alberto-Culver to sell Cederroth International
MELROSE PARK, Ill. Alberto-Culver, whose brands include TRESemme, Nexxus and Alberto VO5, has reached an agreement to sell Cederroth International, a Swedish business that manufacturers consumers products in the Nordic region and parts of Europe, to private equity firm CapMan.
Under the agreement, a fund managed by CapMan will purchase all of the outstanding capital stock of Cederroth International AB. The sale, which is subject to regulatory approval, is expected to close during the summer.
“We are very pleased to have found a strong buyer in CapMan with their Nordic region insight and experience in consumer products. For Alberto-Culver, this transaction facilitates our ability to focus on growing our core beauty care brands TRESemme, Nexxus, Alberto VO5 and St. Ives,” stated Alberto-Culver president and chief executive officer V. James Marino.
Alberto-Culver acquired Cederroth International, based in Stockholm, Sweden, in the early 1990s.
P&G sells off Stamford, Conn. property
STAMFORD, Conn. Procter & Gamble is selling property here that includes a manufacturing plant and two-store office space and will transition employees and manufacturing activities by the end of March 2010.
“Clairol has enjoyed its tenure in Stamford. Now with the sale of this property we are committed to bringing a positive influence to the future of Stamford as a vital community,” stated Patrice Louvet, vice president and general manager of P&G Global Retail Hair Color.
Aside from the 32.68-acre manufacturing plant and 672,654-square-foot office building, the property also includes two single-family residences. The site allows for mixed-use development of residential, retail and a variety of other ancillary uses including medical, government, industrial and flex space.