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In a recent SEC filing, Kimberly-Clark Corp (NYSE:KMB), a consumer goods giant with a market capitalization of $43.15 billion, announced a significant change in its executive team. Andrew Scribner, aged 46, is set to become the new Vice President and Controller of the company starting June 1, 2025. The current holder of the position, Andrew S. Drexler, will transition into a different role before retiring on June 6, 2025.
Mr. Scribner brings a wealth of experience to Kimberly-Clark, having previously held the title of Chief Financial Officer for Kimberly-Clark North America since January 2023. His background includes a tenure at Gap, Inc. (NYSE:GAP), where he served in various financial leadership roles, including Senior Vice President and CFO for Banana Republic and Athleta. He also has 13 years of experience at The Kraft Heinz (NASDAQ:KHC) Company, culminating in a Vice President and General Manager position.
The details of Mr. Scribner’s compensation for his new role as Vice President and Controller have not been disclosed. The company stated that it will file an amendment to this Form 8-K to disclose the compensation information once it has been finalized. According to InvestingPro data, Kimberly-Clark maintains strong profitability with a gross margin of 36.4% and trades at a P/E ratio of 16.8x.
This executive shift comes as Kimberly-Clark continues to navigate the competitive landscape of the converted paper and paperboard products industry. The announcement made today is based on information from a press release statement, with the company confirming the news through its SEC filing. Kimberly-Clark’s commitment to a smooth transition in leadership is evident as they prepare for Mr. Drexler’s retirement and Mr. Scribner’s assumption of the VP and Controller role. InvestingPro analysis shows the company has raised its dividend for 52 consecutive years, demonstrating long-term financial stability.
According to InvestingPro’s Fair Value model, the stock currently appears to be trading near its Fair Value. For deeper insights into Kimberly-Clark’s financial health and future prospects, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Kimberly-Clark Corporation announced an increase in its quarterly dividend to $1.26 per share, a 3.3 percent rise from the previous payout. This marks the 53rd consecutive year that the company has raised its dividend. The dividend is scheduled to be paid to shareholders who are on record by the close of business in March 2025.
In addition, Kimberly-Clark reported its fourth quarter 2024 results, with adjusted earnings per share coming in at $1.50, falling short of analyst expectations by $0.01. However, revenue exceeded estimates, reaching $4.93 billion, a 2.3% year-on-year increase on an organic basis. The company’s gross margin improved to 35.4% on an adjusted basis, and operating profit rose 2.1% to $684 million. Looking forward, Kimberly-Clark provided a cautious 2025 guidance, forecasting adjusted earnings per share growth in the mid-to-high single-digit range.
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