Kimberly-Clark Names Michael Hsu President, COO

Kimberly-Clark Corp. named Michael D. Hsu as president and chief operating officer.

Mr. Hsu joined the company in 2012 and heads Kimberly-Clark's North American personal care and consumer tissue businesses. Before joining the company he was chief commercial officer at Kraft Foods.

The company said Mr. Hsu's appointment, which takes effect Jan. 1, was part of a long-term succession planning process.

Kimberly-Clark also said Elane Stock, group vice president of its international business, intends to pursue opportunities outside of the company. The three regional businesses—Asia-Pacific, Latin America and Europe, the Middle East and Africa—will report directly to Mr. Hsu, who will also take a seat on the company's board.

Kimberly-Clark said it plans to appoint a new group president for North American consumer products "in the near future."

The maker of Kleenex tissues and Huggies diapers lowered its financial forecasts in October, bracing for more quarters of sluggish sales. Chief Executive Thomas Falk said at the time that a pickup in sales wasn't imminent.

Shares, which have fallen 11% in the past three months, were inactive premarket.

Write to Joshua Jamerson at [e-mail]

(END) Dow Jones Newswires

November 16, 2016 09:55 ET (14:55 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.