Ewing-based Church & Dwight Co. on Tuesday announced a CEO transition plan. Richard Dierker, a 15-year company veteran, will be elevated to CEO and president, effective March 31, 2025. Current CEO Matthew Farrell will continue in his role until then, and remain as chairman of the board for a transition period.
“Matt Farrell has been a high-integrity, people-focused leader for Church & Dwight. Under his leadership, Church & Dwight’s market cap has more than doubled to over $25 billion with industry-leading TSR,” Ravi Saligram, lead director of the board, said. “He and his team have successfully integrated value-accretive acquisitions. The company’s power brands continue to lead and grow by leveraging consumer trends to build insight-driven innovations, breakthrough omnichannel initiatives and strong customer relationships. Matt has left an indelible mark on Church & Dwight, and the board is grateful for his immense contributions.”
Saligram said Dierker and Farrell have closely partnered over the last decade to oversee the development of the company’s strategy and key elements of its operations, helping to accelerate its trajectory and breakthrough performance.
Saligram is confident that Dierker is the right leader to evolve Church & Dwight’s highly successful model and lead the firm into the future.
Farrell said: “I have worked closely with Rick for 15 years and know he is uniquely positioned to be our next CEO. Rick has the strategic thinking, leadership skills and passion for execution to sustain our Evergreen model, our acquisition strategy and value creation for years to come. I’d like to thank the whole team at Church & Dwight for always putting the company and consumer first, and working tirelessly to discover and innovate new products and enhance our capabilities.”
“I am honored to have the opportunity to lead this great company and continue to create shareholder value through innovation, technology and accretive acquisitions. The Church & Dwight team exhibits a rare blend of creativity, initiative, curiosity and desire to win. That’s our secret sauce. We have a talented team and great brands. This amounts to a winning formula for employees, consumers, and shareholders and gives me great confidence in our future success,” Dierker said.
