finance
Clorox Chair and CEO Linda Rendle to Step Down
Linda Rendle will leave the chief executive role at Clorox after six years. The company said the departure is for health reasons and that she will serve in an advisory capacity during the transition.
May 29, 1:20 PM·1m read1 source
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Clorox shares fell on Friday after the company announced that Chair and CEO Linda Rendle will step down. The board has begun a search for her replacement. Rendle will continue in an advisory role for a period after a successor is named to support business performance and the leadership change.
Rendle stated that serving as CEO for the past six years and working at the company for more than two decades had been the privilege of her career. Under her leadership, Clorox shares declined 57 percent.
Cowen analyst Robert Moskow said the announcement reinforces concerns about execution amid plans to update enterprise resource planning software and launch new products, including a restaging of cat litter. He added that the company is expected to guide below consensus for fiscal 2027.
BNP Paribas analyst Kevin Grundy said the next CEO will face challenges including weaker business performance, delivery volatility, and slower category growth. He noted that former Church & Dwight CEO Matt Farrell would be unlikely to take the role but would be viewed positively by shareholders.
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