Think Clorox, and you think liquid bleach. But the company's new head of U.S. operations can't go near the stuff until 1995 under a legal settlement with Procter & Gamble announced on Oct. 26. Neil DeFeo quit P&G as head of international planning for laundry and cleaning products to join Clorox last July. P&G fired off a lawsuit, fearing misuse of trade secrets. Clorox sued back. The companies' settlement bars DeFeo from managing Clorox household cleaning products until March, 1994, powdered bleach until September, 1994, and liquid bleach until January, 1995. PaineWebber analyst Andrew Shore says those products constitute 60% of Clorox' U.S. sales. DeFeo will stick to products such as charcoal briquettes and kitty litter.
Before it's here, it's on the Bloomberg Terminal. LEARN MORE