Shares of Kimberly Clark Corp (NYSE:KMB) ended Friday session in red amid volatile trading. The shares closed down -0.50 points or -0.39% at $126.73 with 1.37 million shares getting traded. Post opening the session at $127.36, the shares hit an intraday low of $126.42 and an intraday high of $127.36 and the price vacillated in this range throughout the day. The company has a market cap of $46.41 billion and the numbers of outstanding shares have been calculated to be 359.63 million shares.
Kimberly Clark Corp (KMB) on Sept. 15, 2016 announced that chief human resources officer Liz Gottung plans to retire at the end of 2016. The company has named Scott Boston as Gottung’s successor.
Boston, who joined the company in 2011, has led global HR talent management and been responsible for leading HR within Kimberly-Clark International. He will become senior vice president and chief human resources officer (CHRO) effective January 1, 2017 and will work with Liz to ensure a smooth transition.
“Liz has been an outstanding partner and HR professional throughout her career at K-C,” said Thomas J. Falk, chairman and CEO of Kimberly-Clark. “I am grateful for her leadership and contributions to strengthening our business, our talent and our culture.”
During her 35-year career at Kimberly-Clark, Gottung held a wide range of leadership roles prior to being named CHRO in 2002. As the leader of the company’s HR organization, she aligned the HR function with the company’s overall business strategy and championed the culture. She also led the development of the company’s people strategy to support global talent and capability building.
“We are also fortunate to have someone of Scott’s experience and talent replace Liz. He is a proven, change-oriented HR leader who has demonstrated abilities across our businesses,” added Falk.
Shares of Owens-Illinois Inc (NYSE:OI) ended Friday session in red amid volatile trading. The shares closed down -0.03 points or -0.17% at $18.11 with 1.32 million shares getting traded. Post opening the session at $18.10, the shares hit an intraday low of $18.02 and an intraday high of $18.26 and the price vacillated in this range throughout the day. The company has a market cap of $3.00 billion and the numbers of outstanding shares have been calculated to be 162.08 million shares.
Owens-Illinois Inc (OI) on July 27, 2016 reported financial results for the second quarter ended June 30, 2016.
Second Quarter 2016 Results
Net sales in the second quarter of 2016 were $1.8 billion, up $217 million, or 14 percent, from the prior year second quarter. The Company`s investment in non-organic growth is driving the top line higher; the acquired business generated $234 million in net sales – 13 percent of global net sales – due to strong shipments within Mexico and to the United States. Price was up $18 million on a global basis, primarily driven by price adjustments that reflect cost inflation. Unfavorable currency translation adversely impacted net sales by $31 million, or 2 percent.
Management efforts to drive revenue stability are taking hold. The 1 percent increase in legacy shipments on a global basis was in line with management expectations. Shipments in Europe increased 3 percent, driven by mid-single digit gains in beer and wine. In North America, legacy volumes were on par with prior year, as higher spirits and non-alcoholic beverage shipments mostly offset the decline in beer. Second quarter shipments for legacy Latin America declined as weakness in Brazil was partially offset by double-digit increases in the rest of the region. Asia Pacific reported a 2 percent increase in volumes, due to higher beer and wine shipments in the region`s mature markets.
Earnings from continuing operations before income taxes were $141 million in the quarter, an increase of $79 million compared with prior year. This was mainly driven by higher segment operating profit (+$46 million) and the change in items not considered representative of ongoing operations (+$33 million).
Commenting on the Company`s second quarter results and outlook, CEO Andres Lopez stated, “We are very pleased with the solid progress on the execution of our strategy. Our meaningful performance improvement is the result of significant focus on improving our efficiency, stabilizing both revenue and operating performance, and continued success with the integration of the Mexico acquisition. In addition, we are gaining momentum by enhancing customer service, implementing a more robust end-to-end global supply chain and transforming our organization to deliver improved quality, agility, speed, flexibility and innovation – all at a competitive price. We have been delivering steady improvement, which has resulted in margin expansion and a year-over-year increase in earnings. Looking ahead, we remain committed to our earnings and cash flow guidance.”