John Hazlin
COLGATE PALMOLIVEAbout John Hazlin
Colgate-Palmolive’s Chief Growth Officer (effective June 16, 2025), age 55, responsible for implementing the 2030 Strategic Plan and leading global category direction and growth functions (Analytics, Design, Digital, R&D, Supply Chain). Previously President of Hill’s Pet Nutrition; joined Colgate in 1997 after an internship, B.A. Duke University and MBA NYU Stern .
Company performance context: 2024 organic sales growth 7.4% (vs 5.0% target) and Base Business EPS $3.60 (above $3.37–$3.42 target), with three-year Free Cash Flow Productivity at 100.7% for compensation purposes .
Hill’s 2025 operating momentum under Hazlin’s stewardship: operating margin expanded to 23.1% in Q1 2025 (+510 bps YoY), with solid profitability maintained into Q2 and Q3; net sales grew YoY in Q1–Q3 (Q2 net sales +3.8%) despite headwinds from exiting private label and FX .
Hill’s Pet Nutrition 2025 (segment) performance:
| Metric | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|
| Net Sales ($MM) | $1,118 | $1,157 | $1,142 |
| Operating Profit Margin (%) | 23.1% | 22.9% | 22.4% |
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Hill’s Pet Nutrition (CL) | President | 2022–2025 | Drove growth in therapeutic and wellness categories; improved profitability; expanded capacity; managed exit from private label . |
| Colgate-Palmolive | President, Africa/Eurasia | — | Expanded presence via commercial prioritization, innovation, and digital commerce . |
| Colgate-Palmolive | Global Marketing Development Program (joined CP) | 1997– | Progressed through marketing and general management roles across geographies . |
External Roles
None disclosed in company filings/leadership pages .
Fixed Compensation
- No executive officer employment agreements; CL does not guarantee minimum base salaries or guaranteed bonuses for executive officers .
- Program mix emphasizes variable pay; for Named Officers (reference cohort), ~75% of target direct compensation is incentive-based (CEO ~90%) .
- Perquisites limited; only CEO receives car/driver; no tax gross-ups on perquisites .
Performance Compensation
Annual Incentive (company-wide design applied to executives)
| Component | Weighting | 2024 Target | 2024 Actual | Payout (as % of assigned opportunity) |
|---|---|---|---|---|
| Base Business EPS | Part of 80% financial | $3.37–$3.42 | $3.60 | Included in 174% aggregate financial outcome |
| Organic Sales Growth | Part of 80% financial | 5.0% | 7.4% | Included in 174% aggregate financial outcome |
| Strategic Initiatives (innovation, consumer experience, inclusion, sustainability) | 20% | Qualitative goals | Strong performance vs goals | 150% |
Notes: Annual bonus outcomes for Named Officers ranged ~59th–87th percentile vs peers; CEO near 86th percentile; executives’ actual awards vary by role/performance .
Long-Term Incentives (PBRSUs; 3-year cycle)
| Measure | Period | Target | Status/Vesting |
|---|---|---|---|
| Relative Organic Sales Growth vs Comparison Group | 2024–2026 | 50th percentile | If measured to 12/31/24, performance between target and max; PBRSUs vest in 2027 if earned |
| Relative Base Business Net Income Growth | 2024–2026 | 50th percentile | As above |
| Free Cash Flow Productivity | 2024–2026 | 95% | As above |
| TSR Modifier | 2024–2026 | ±25% vs peers | Applies at vest |
Stock options and time-based RSUs are also granted annually per salary grade guidelines; value realization tied to stock price and service vesting .
Equity Ownership & Alignment
- Initial Section 16 filing (Form 3, June 25, 2025) as Chief Growth Officer shows: Direct common stock 14,385 shares; indirect 5,382 shares via issuer’s 401(k) plan trustee .
- Reported stock options (derivatives):
- 19,342 options, exercise price $72.83, expiring 09/13/2031 .
- 20,989 options, exercise price $76.41, expiring 09/10/2028 .
- Additional 09/10/2029 grant disclosed; details partially visible in excerpt .
- Hedging and pledging: Directors and officers are prohibited from hedging or pledging Colgate stock, reducing misalignment and forced-sale risk .
- Stock ownership guidelines: stringent senior management ownership requirements (e.g., CEO 8x salary; other Named Officers 4x); guidelines reinforce alignment; applies broadly to senior management .
- Insider selling pressure: No Form 4 transactions located in our search; only Form 3 on appointment as officer was found .
Ownership snapshot (as of Form 3):
| Security | Amount | Form of ownership |
|---|---|---|
| Common Stock | 14,385 | Direct |
| Common Stock | 5,382 | Indirect via 401(k) plan trustee |
| Stock Option (Right to Buy) | 19,342 | $72.83 strike; expires 09/13/2031; Direct |
| Stock Option (Right to Buy) | 20,989 | $76.41 strike; expires 09/10/2028; Direct |
Employment Terms
- No individual employment agreement (company policy) .
- Executive Severance Plan (board-renewed Sept 2023): ~150 senior executives (including Named Officers) participate; if within two years of a change in control there is a Qualified Termination, lump sum equals 18 or 24 months of (base salary at termination + average of last three annual bonuses) plus company plan contributions; continuation of medical/dental/life benefits during severance period; one-year non-compete required for eligibility .
- Change-in-control definition includes 30%+ ownership, majority board turnover, major reorg/asset sale, or liquidation (with exceptions) .
- Equity under change-in-control: double-trigger—unvested RSUs/PBRSUs become earned/non-forfeitable only upon both a change in control and a Qualified Termination (or if awards are not assumed/replaced); performance awards earned at greater of target or actual to date .
- Involuntary termination without cause (outside change-in-control): lump sum of 12–24 months base salary plus limited benefits; retirement-eligible officers receive retirement treatment for equity per plan terms .
- Clawbacks: mandatory recoupment for financial restatements (fault not required) and broader discretionary clawback for Code violations (cash and equity) .
Performance & Track Record
- Hill’s growth/margins: Organic growth led by therapeutic and wellness categories; operating margin expanded in 2025; Q1 OP margin 23.1% (+510 bps YoY), Q2 22.9% (+180 bps YoY), Q3 22.4% (-50 bps YoY) amid higher raw/packaging costs and stepped-up advertising .
- Capacity and vertical integration: Majority of dry production in-house; building wet capacity to further insource and expand .
- International expansion: Underdeveloped presence in major markets; playbook leverages science-backed nutrition and veterinary endorsement; exploring China/Brazil entry via organic-first approach with potential M&A optionality .
- Innovation cadence: Renovations (e.g., Science Diet with proprietary prebiotic blend), new wet offerings, feline diet range expansion, and new therapeutic Cognitive+Mobility formula targeting senior pets .
- Portfolio development: Entered fresh pet food via acquisition of Prime100 (AU$471m; ~$301m), allocating $214m goodwill to Hill’s; integration underway .
- Risk view (Hazlin’s remarks): Category growth near-term softness; long-term fundamentals strong; key risks are pacing of category recovery and execution of capacity/international scale-up .
Compensation Peer Group (Benchmarking Reference)
Peer group used for compensation/program benchmarking and relative performance: Church & Dwight; Clorox; Coca-Cola; Estée Lauder; General Mills; Haleon; Kellanova; Kenvue; Kimberly-Clark; Kraft Heinz; Mondelēz; PepsiCo; Procter & Gamble; Reckitt Benckiser; Unilever .
Equity Plan Mechanics and Vesting References
- Options and RSUs are granted under the 2019 Incentive Compensation Plan; nonqualified options vest per grant notice and are exercisable until expiration, subject to termination rules; RSUs vest per grant and settle in shares; awards subject to non-compete/non-solicit/non-interference provisions .
Employment & Governance Policies (Alignment/Controls)
- Anti-hedging/anti-pledging for officers; robust stock ownership guidelines; stringent clawbacks; no repricing/backdating; double-trigger CoC equity vesting; annual say-on-pay; no tax gross-ups on severance .
Investment Implications
- Alignment and signals: Hazlin’s initial Form 3 shows meaningful equity/options and no observed selling to date, with anti-hedge/pledge policies and ownership guidelines supporting alignment; double-trigger CoC reduces windfall risk in a sale scenario .
- Retention risk: Participation in broad Severance Plan with one-year non-compete and equity that vests on performance and service lowers near-term flight risk; absence of an individual employment agreement provides flexibility but is standard at CL .
- Execution upside: Proven Hill’s track record (margin expansion; innovation pipeline; capacity expansion; entry into fresh via Prime100) positions Hazlin to drive 2030 plan initiatives; monitoring Hill’s organic growth reacceleration and international rollouts (China/Brazil) are key catalysts/risks .
- Pay-for-performance: Incentives tightly linked to Base Business EPS, organic sales and multi-year relative metrics with TSR modifier; 2024 payout outcomes evidence responsiveness to outperformance, which can be a positive for growth execution but requires continued delivery to sustain .
Quotes and additional references:
- Appointment and role scope (Chief Growth Officer)
- Hill’s category strategy, capacity and risk commentary (Goldman Sachs forum, May 13, 2025) .