Market Commentary and Intraday News
Clorox board member Gary Michael resigns
253 days ago
By The Associated Press
The Clorox Co. on Friday said its board member Gary Michael is resigning.
Michael has served as a director of the company since 2001 and is currently lead director. His resignation takes effect Nov. 14.
The company said in a filing with the Securities and Exchange Commission that Michael is resigning under company rules that require a directors resign prior to the annual meeting at which they will be 72.
Robert W. Matschullat was elected to fill the vacancy as lead director; Matschullat has been a director of the company since 1999. He served as interim chairman and interim CEO of the Clorox from March 2006 through October 2006, and chairman from January 2004 through January 2005. He retired as chief financial officer of The Seagram Co. Ltd. in 1000.
The company, based in Oakland, Calif. and best known for its namesake bleach, makes an array of consumer products ranging from Fresh Step kitty litter to Pine-Sol household cleaner.
Shares fell $1.36 to close at $70.59.
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