James M. Kilts, chairman and CEO of personal care products maker The Gillette Company, on Thursday reviewed the company's results for 2002, which he described as "a very good year that showed across-the-board improvements," with strong gains in net sales, profit from operations, and earnings per share. He spoke at the corporation's 2003 Annual Meeting of Shareholders.
At the meeting, shareholders elected four directors to serve for 3-year terms that expire at the 2006 Annual Meeting. The directors were Roger K. Deromedi, Dennis F. Hightower, Herbert H. Jacobi, and Nancy J. Karch. The company also said that Mr. Jacobi is assuming the newly established position of lead director. In this role, he will chair executive sessions of the Board.
Shareholders also approved a shareholder proposal recommending that the Board of Directors consider the annual election of all Board members, rather than the current staggered, 3-year terms, and they rejected another proposal that the company establish a policy of expensing stock options.
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