Lorrie Norrington
COLGATE PALMOLIVEAbout Lorrie M. Norrington
Independent Lead Director at Colgate-Palmolive (CL), age 65, serving on the Board since 2015. Operating Partner at Lead Edge Capital since 2012; former President of Global eBay Marketplaces, COO of eBay Marketplaces, President of eBay International, and CEO of Shopping.com (2005–2010); earlier senior roles at Intuit and nearly 20 years at General Electric including CEO of GE FANUC. Core credentials include deep digital/eCommerce, software, data/analytics and AI experience, cybersecurity oversight certifications, global operating leadership, and public company governance expertise. She is designated independent and currently serves as CL’s Lead Director, chairing executive sessions at every regularly scheduled Board meeting.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lead Edge Capital LLC | Operating Partner | 2012–present | Advises growth-stage tech companies; digital strategy and governance focus |
| eBay Inc. | President, Global eBay Marketplaces; COO, eBay Marketplaces; President, eBay International; CEO, Shopping.com | 2005–2010 | Scaled global marketplaces; advanced eCommerce, data/analytics |
| Intuit Inc. | Senior positions | Not disclosed | Software operating leadership; digital marketing |
| General Electric (GE) | Company officer; CEO, GE FANUC | ~20 years | Global operating roles; industrial technology operations |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| Asana, Inc. | Director | Since 2019 | Technology/software governance |
| Autodesk, Inc. | Director | 2011 – June 2025 (not standing for re-election) | Transition reduces external time commitments |
| HubSpot, Inc. | Director | Since 2013 | SaaS marketing platform governance |
| Eventbrite, Inc. | Director | Until 2020 | Prior public board service |
Board Governance
| Item | Details |
|---|---|
| Independence | Independent Lead Director; CL Board has 9 of 10 independent nominees and 100% independent committees. |
| Committee memberships | Audit Committee (member) and Nominating, Governance & Corporate Responsibility (NGCR) Committee (member). |
| Committee meeting cadence (2024) | Audit: 7; Finance: 6; NGCR: 4; Personnel & Organization (P&O): 4. |
| Lead Director duties | Chairs executive sessions; sets agendas for independent directors; calls meetings; liaises with CEO/management; reviews Board information/agenda/schedules; leads CEO performance evaluation and succession planning with P&O; engages with stakeholders. |
| Attendance & engagement | 99% average attendance among incumbents in 2024; executive sessions at every regularly scheduled Board meeting; Lead Director available for stockholder consultation. |
| Stockholder sentiment on chair structure | Independent chair proposal received 33.8% support in 2024; CL enhanced Lead Director duties (2021, 2023). |
Fixed Compensation (Director)
| Component | 2024 Amount ($) | Notes |
|---|---|---|
| Annual cash retainer | 75,000 | Standard non-employee director retainer |
| Lead Director retainer | 20,000 | Additional cash for Lead Director role |
| Total cash fees (Fees Earned in Cash) | 105,000 | Sum of retainers |
| Annual share grant (stock) | 179,946 | Fixed-value shares; grant-date fair value $94.46/share |
| Annual option grant | 44,988 | Grant-date fair value $20.44/option; 8-year term; 3-year equal vesting; strike = closing price on grant date |
| All other compensation | 8,250 | Life insurance + charitable matching (up to $8,000 matched) |
| Total | 338,184 | Aggregate 2024 director compensation |
Deferrals: Norrington elected to defer her 2024 cash retainer and share grant into stock unit accounts.
Performance Compensation (Director Equity Structure)
| Element | Terms | Status/Counts |
|---|---|---|
| Stock options | Exercise price equals closing price on grant date; 8-year term; vest in equal annual installments over 3 years. | Options outstanding as of 12/31/2024: 20,143 |
| Time-based stock units | RSUs vest in equal annual installments over 3 years; dividend equivalents accrue as RSUs; distributed as shares on vest. | Director equity grant fixed-value structure; no performance metrics for directors |
Other Directorships & Interlocks
| Company | Interlock/Committee Roles | Notes |
|---|---|---|
| Asana, Autodesk, HubSpot | Not disclosed | CL independence standards flag interlocking boards/comp committees as potential conflicts; Board determined Norrington is independent. |
| Prior: Eventbrite | Not disclosed | Former board service; no related person transactions disclosed. |
Expertise & Qualifications
- Digital, technology and innovation: eCommerce, digital marketing, data/analytics, AI; strong IT/software background from eBay/Intuit and advisory work.
- Cybersecurity oversight: certifications and significant board-level experience.
- Enterprise leadership: senior operating roles at eBay and GE; global P&L.
- Finance and M&A literacy; international operations leadership.
- Sustainability and social responsibility: chaired responsible committees at various U.S. public companies.
- Public company governance: extensive U.S. public board experience.
Equity Ownership
| Category | Amount |
|---|---|
| Directly owned shares | 889 |
| Exercisable options (within 60 days of 3/10/2025) | 16,019 |
| Common stock units (deferred) | 34,855 |
| Shares held via Savings & Investment Plan trustee | Not disclosed for Norrington |
| Beneficial ownership % of outstanding | Each named person <0.25% (directors+executives as group 0.41%). |
Ownership alignment: Non-employee directors must hold stock equal to at least 5× their annual share grant; compliance confirmed. Hedging and pledging of CL stock are prohibited; directors were in compliance in 2024.
Governance Assessment
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Strengths
- Robust independent Lead Director role with enhanced, clearly defined authorities across board leadership, information flow, CEO evaluation/succession, and stakeholder engagement—supports effective checks and balances without an independent chair mandate.
- High board independence and attendance (99% average in 2024); executive sessions of independent directors at every regular meeting.
- Director compensation largely paid in equity (71% average), rigorous stock ownership guidelines (5× annual share grant), and anti-hedging/anti-pledging policies strengthen shareholder alignment.
- No related person transactions in 2024; compensation committee interlocks absent; external compensation consultant FW Cook assessed as conflict-free.
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Potential watch items
- Multi-board commitments: Norrington serves on three public boards (Asana, Autodesk through June 2025, HubSpot), within CL’s limit of ≤3 other boards; monitor time commitments and any audit committee overlaps vis-à-vis CL’s audit committee limit policy.
- Stockholder preference for independent chair: 33.8% support for the 2024 independent chair proposal indicates a constituency favoring further separation; continued transparency around Lead Director effectiveness is prudent.
- Director equity includes options (time-based, not performance-based); while aligned with stock price, lacks explicit performance metrics—consistent with market practice but investors should evaluate overall board accountability mechanisms.
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Shareholder feedback signals
- Say-on-pay support was 86.7% in 2024, indicating broad investor approval of compensation governance; CL continues regular investor engagement, with Lead Director available for consultation when appropriate.