Selection of the Chairman of the Board the Board requires the separation of the offices of the Chairman of the Board and the Chief Executive Officer. The Chairman of the Board shall be an Independent Director. A Lead Director shall not be a substitute for an independent Board Chairman. The Board shall have the discretion to select an interim Chairman of the Board, who is not an Independent Director, to serve while the Board is seeking an Independent Chairman of the Board on an accelerated basis. This policy could be phased in when there is a contract renewal for our current CEO or for the next CEO transition although it is better to adopt it now. An independent Board Chairman at all times improves corporate governance by bringing impartiality, objective oversight, and external expertise to board decisions, mitigating conflicts of interest, enhancing transparency, and boosting investor confidence. This detached perspective allows the chairman to focus on shareholder interests , strengthen management accountability, and provide critical checks and balances, ultimately contributing to the Company's long-term sustainability and credibility. This may be a particularly good time to consider the merits of this proposal. There have been multiple 2025 news reports reflecting unfavorable aspects of Colgate-Palmolive Company's performance. These reports focus primarily on lowered financial guidance, weaker-than-expected sales growth, and challenges in the consumer market. In January 2025, Colgate-Palmolive issued a revised full-year forecast, projecting weaker annual sales and slower organic growth than previously expected. The company cited new tariffs as a significant factor affecting costs and financial projections. Following the guidance cut in January 2025, Colgate-Palmolive shares fell. A more recent decline occurred in October 2025. Reports highlight that volume growth was impacted by weaker consumer demand and economic uncertainty. Net sales also decreased by 3% in the first quarter of 2025. Colgate-Palmolive noted a persistently cautious consumer environment in North America, with inflation driving some consumers to switch from premium products to cheaper private-label brands. Colgate experienced a slowdown in category growth in the U.S. and other global markets, with its Europe business also seeing declining volumes. Colgate-Palmolive is facing heightened competition. The company's decision to exit the private-label pet nutrition business in 2025 will negatively impact short-term volume growth. In May, reports surfaced that Colgate-Palmolive will miss some of its 2025 sustainability goals, particularly the target to make all of its packaging recyclable, reusable, or compostable. In May 2025, news broke that distributors in the Indian state of Maharashtra had decided to suspend purchasing all Colgate-Palmolive products.