Key Coca-Cola Exec Joins Clorox As CEO
Story excerpts come from yahoo finance, thanks guys.
“Clorox Co. has lured away Coca-Cola Co. executive Donald Knauss to guide its household products bazaar, filling a void created after its previous chief executive suffered a heart attack earlier this year.
The Oakland, Calif.-based company announced Knauss’ hiring as its new CEO late Wednesday, shortly after Coca-Cola disclosed Knauss was stepping down as the president of its North American unit.
Clorox had been hunting for a new chief executive since Gerald Johnston retired from the job in May, two months after a heart attack. A Clorox board member, Robert Matschullat, had been serving as the company’s chairman and CEO on an interim basis.
Dozens of other companies that either already have revising or considering making changes to previous financial statements to adjust for the improper accounting of stock options granted years ago. When it acknowledged its mistakes earlier this month, Clorox said it hadn’t found any evidence of financial fraud.
Knauss is leaving Coca-Cola after a 12-year stint at the Atlanta-based beverage maker. He had spent the past 2 1/2 years running the North American operations.
Coca-Cola named J. Alexander M. “Sandy” Douglas Jr. to replace Knauss. Douglas had been a Coke senior vice president and chief customer officer.”
-Blain Reinkensmeyer
