Company: CL
Filing Date: 2025-03-26
Form Type: DEF 14A
Source: 0001308179-25-000223
Chunk: 51

Company: COLGATE PALMOLIVE CO
Filing Date: 2025-03-26
Form: DEF 14A
Chunk 51
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 by the independent   
 Lead Director. The independent Lead Director serves a three-year term and is selected by and from the independent directors       
 following nomination by the Nominating, Governance and Corporate Responsibility Committee.                                        |

| 66 |

Proposals Requiring Your Vote

| Further, all                                                                                                                        
 of the members (including the chairs) of all of the Board’s committees -- the Audit Committee, the Finance Committee,               
 the Nominating, Governance and Corporate Responsibility Committee and the Board’s compensation committee (known as the              
 Personnel and Organization Committee) -- are independent directors. This, when coupled with the independent composition of          
 the Board as described above, ensures that independent directors guide all critical matters, such as review and approval of         
 operating and capital budgets and strategy, the integrity of our financial statements, oversight of the enterprise risk management  
 process, cybersecurity and sustainability and social impact initiatives, CEO and senior management compensation, succession         
 planning and talent development and selection of directors.                                                                         |
| The Board and Colgate are committed to the                                                                                          
 highest standards of corporate governance and are accountable and responsive to stockholders.                                       |
| Our corporate governance practices                                                                                                  
 and policies are described in the section of this Proxy Statement entitled “Governance.” As discussed in that                       
 section, we have had a longstanding commitment to the highest standards of corporate governance, including a policy requiring       
 the annual election of all directors by majority vote and a proxy access right that allows eligible stockholders to nominate        
 directors for inclusion in our proxy statement if they satisfy the requirements specified in our by-laws. Reflecting the Board’s    
 commitment to continuous improvement, the Board reviews its governance practices on an ongoing basis to ensure that they promote    
 stakeholder value and effective functioning of the Board. The Board has made a number of enhancements over the years. For           
 example, in response to stockholder feedback, in 2022 the Board adopted a policy that we will not execute any new severance         
 agreement with an executive officer that provides for cash severance benefits exceeding 2.99 times the sum of the executive         
 officer’s base salary plus target bonus opportunity without seeking stockholder ratification of the agreement. In 2021              
 the Board reduced the ownership threshold required to call a special stockholder meeting from 25% to 15% in response to stockholder 
 feedback in connection with a stockholder proposal received on the topic. These actions demonstrate the Board’s accountability      
 and responsiveness to stockholders, and together with the requirement that all directors be elected annually by majority vote