February 26, 2010 03:40 PM Eastern Time

Colgate’s Board of Directors Approves Shareholder Advisory Vote on Executive Compensation for 2010 Annual Meeting

NEW YORK--(BUSINESS WIRE)--Regulatory News:

Colgate-Palmolive Company (NYSE:CL) today announced that its Board of Directors has approved providing shareholders with a non-binding advisory vote on executive compensation at Colgate’s Annual Meeting of Stockholders on May 7, 2010.

Ian Cook, Colgate’s Chairman, President and Chief Executive Officer, said, “By providing shareholders with an advisory vote in 2010, Colgate continues its long-standing commitment to good corporate governance. The Personnel & Organization Committee of the Board of Directors welcomes an advisory vote on the Company’s strong pay-for-performance based compensation programs that have helped drive the Company’s superior business performance both in recent years and over the long term.”

While Colgate will continue to monitor developments regarding the advisory vote, including pending legislation that would mandate an annual advisory vote, the Board currently plans to seek an advisory vote on executive compensation every other year. The Board believes this approach would align more closely with the multi-year performance measurement cycle Colgate uses to reward long-term performance. It also would provide the Company with sufficient time to engage with shareholders to understand and respond to the vote results.

Timothy Smith, Senior Vice President Environment, Social and Governance Group of Walden Asset Management and Daniel Stranahan, Finance Committee Chair of The Needmor Fund said, “We commend Colgate for taking this step, which further enhances its strong corporate governance and accountability on compensation.” The Company’s decision to hold an advisory vote in 2010 grew out of a constructive dialogue with these shareholders as well as discussions with other shareholders and Colgate’s participation in the Working Group on the Advisory Vote.

About Colgate-Palmolive: Colgate-Palmolive is a leading global consumer products company, tightly focused on Oral Care, Personal Care, Home Care and Pet Nutrition. Colgate sells its products in over 200 countries and territories around the world under such internationally recognized brand names as Colgate, Palmolive, Mennen, Softsoap, Irish Spring, Protex, Sorriso, Kolynos, Elmex, Tom's of Maine, Ajax, Axion, Fabuloso, Soupline and Suavitel, as well as Hill's Science Diet and Hill's Prescription Diet. For more information about Colgate's global business, visit the Company's web site at http://www.colgate.com.