Amid Surging Sales, Clorox Appoints Female CEO
President Linda Rendle has been named to lead the S&P 500 company, which has seen a boost in sales during the COVID-19 pandemic.
The Clorox Company announced Rendle’s appointment on Monday, replacing Benno Dorer, who has served as CEO since 2014.
The cleaning product manufacturer revealed a 22% increase in sales in its Q2 financial statement, indicating a favourable environment for its cleaning products as the COVID-19 pandemic has heightened public awareness of hygiene.
The company’s share price has also increased by 53% in the last 52 weeks, outpacing the wider S&P 500, which grew by only 15%. In defiance of the “glass cliff” phenomenon – an observed business trend where women are more likely to be appointed to leadership positions in companies that are struggling to survive – Rendle will take the reins during a growth period for Clorox.
“I love this company and our people around the world who have become like family over the past 17 years,” Rendle said in a statement. “I am thrilled with this opportunity to lead The Clorox Company, building on our accomplishments and growth under Benno’s strong leadership.”
Dorer also commented on Rendle’s appointment. “I’m proud of what we have accomplished as a team for our shareholders and all stakeholders, including our employees, consumers and communities. With a healthy business, so much opportunity for continued good growth and a successor who is ready to lead this company, it’s the right time for the board to appoint Linda as CEO,” he said.
Rendle’s appointment raises the number of female CEOs in the S&P 500 to 38, the highest it has ever been.
Last week, an Axios Harris Poll 100 identified Clorox as one of the top five high-profile US companies with a positive reputation, ranking alongside Amazon, General Mills, Publix Supermarkets and The Hershey Company. Also, in a bid to win customer trust during the ongoing COVID-19 pandemic, both Uber and United Airlines have formed partnerships with Clorox.