Noel Wallace
Also at Colgate-Palmolive Co
About
Noel R. Wallace is 60 years old as of February 13, 2025, and has built a significant career at Colgate-Palmolive since joining the company in 1987. Over the years, he has accrued extensive experience in various leadership roles while navigating the complexities of the fast-moving consumer goods industry.
His professional journey includes serving as President of Colgate North America and Global Sustainability from 2010 to 2013, President of Colgate Latin America from 2013 to 2016, and Chief Operating Officer in global innovation and growth functions from 2016 to 2018. In 2018, he stepped into the role of President and Chief Operating Officer, which paved the way for his appointment as President and CEO in 2019, followed by his elevation to Chairman of the Board in 2020.
Wallace's career reflects a robust combination of operational leadership and international expertise, with a focus on sustainability, corporate governance, and financial acumen. His progressive promotions and diversified experiences underline a dedicated commitment to the strategic growth and global success of Colgate-Palmolive.
$CL Performance Under Noel Wallace
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Colgate-Palmolive | President and Chief Operating Officer | 2018 - 2019 | Held responsibility for all operating units worldwide |
| Colgate-Palmolive | Chief Operating Officer, Global Innovation & Growth and Hill’s Pet Nutrition | 2016 - 2018 | Preceded subsequent promotion; managed global innovation, growth initiatives, and pet nutrition |
| Colgate-Palmolive | President, Colgate Latin America | 2013 - 2016 | Managed operations across Latin America |
| Colgate-Palmolive | President, Colgate North America and Global Sustainability | 2010 - 2013 | Oversaw North America business and sustainability initiatives |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Salary | $1,475,000 | Annually | Fixed annual salary |
| Company Contributions to Savings & Investment 401(k) Plan | $39,600 | Annually | Company contribution for retirement savings |
| Company Allocations to Supplemental Savings & Investment Plan | $782,340 | Annually | Company allocation toward supplemental savings |
| Value of Company-Paid Life Insurance Premiums | $2,856 | Annually | Premiums paid by the company for life insurance |
| Perquisites and Other Personal Benefits | $105,066 | Annually | Includes incremental cost of personal use of a car and driver |
Performance Compensation
Annual Incentives
| Metric | Details |
|---|---|
| Base Business EPS | Target range: $3.02–$3.07, Actual: $3.23, resulting in 180% of the assigned award opportunities |
| Organic Sales Growth | Target: 5.8%, Actual: 8.4% |
| Strategic Initiatives | Evaluated on enterprise-wide innovation, digital transformation, DE&I, and sustainability; payout at 140% of target |
| Weighting | Financial Measures: 80% (EPS and Organic Sales Growth), Strategic Initiatives: 20% |
| Award Opportunity | 175% of base salary with a maximum of 350% |
| Adjustments | Adjusted for restructuring, litigation, tax matters, acquisition-related costs, and other non-recurring items |
| Payment | Annual cash bonus paid in early 2024 |
| Ethics & Compliance Condition | Subject to a 10% downward adjustment if key global ethics and compliance objectives are not met (objectives achieved in 2023) |
Performance-Based Restricted Stock Units (PBRSUs)
| Metric | Details |
|---|---|
| Grant Date | March 9, 2023 |
| Target Number of PBRSUs | 71,839 |
| Threshold Number of PBRSUs | 7,184 (10% of target) |
| Maximum Number of PBRSUs | 143,678 (200% of target) |
| Grant Date Fair Value | $4,813,931 |
| Performance Measures | Average Organic Sales Growth (50%), Average Base Business Net Income Growth (30%), Average Free Cash Flow Productivity (20%) |
| TSR Modifier | Up to ±25% adjustment based on Total Shareholder Return relative to the Comparison Group |
| Vesting Schedule | Vests at the end of the 2023–2025 performance period upon certification by the P&O Committee |
Stock Options
| Metric | Details |
|---|---|
| Grant Date | September 13, 2023 |
| Number of Options Granted | 206,515 |
| Exercise Price | $72.83 per share |
| Grant Date Fair Value | $3,075,008 |
| Vesting Schedule | Vests in equal annual installments over three years |
| Expiration Date | September 13, 2031 |