Kimberly-Clark's New Economy Skeptic

We won't make short-term, crazy moves for pennies in a quarter, says retiring CEO Wayne Sanders. No question we were punished for that

After helping to transform Kimberly-Clark, maker of Huggies diapers and Kleenex tissues, into a truly global consumer-products giant, CEO Wayne Sanders announced his retirement on Sept. 12. His successor is President Thomas Falk, a 19-year company veteran who played a critical role in integrating Scott Paper after Kimberly acquired it in 1995. Sanders, 55, will remain chairman until February, 2003, when he'll step down from the board. He called the move part of a "carefully planned transition" after 11 years as chief executive.

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