The Clorox Company’s general counsel and executive vice president Laura Stein has resigned after over two decades with the consumer products company, according to a new SEC filing.
Angela Hilt will step in for Stein as chief legal officer of the Oakland, Calif.-based company on Dec. 14, Clorox said in the Thursday filing. Hilt is currently Clorox’s vice president and deputy general counsel.
Clorox has had a strong year following spikes in demand for products like disinfecting wipes amid the Covid-19 pandemic. In July, a Clorox spokesperson said the company had seen an unprecedented demand spike for some disinfecting products of up to 500%.
The company’s stock price has risen by nearly 20% since March 1,reaching a 52-week high of $239.87 per share and trading at $204.05 on Friday afternoon.
Stein sold around 28,000 shares of Clorox stock in early November prior to announcing her departure, totaling $6 million.
Stein’s base salary was more than $630,000 and her total compensation was more $2.97 million last year, up from $2.11 million the year before, according to a company proxy statement.
She became general counsel of Clorox in 2005. Stein was senior vice president and general counsel at food processing company H.J. Heinz Co. between positions with Clorox, and she has worked in private practice with Morrison & Foerster.
Hilt, the incoming chief legal officer, joined Clorox in 2005 and was previously with Morgan Lewis & Bockius and Brobeck Phleger & Harrison.
Clorox, a company of nearly 9,000 employees, also recently appointed a new CEO, Linda Rendle, who took on the role in September. Benno Dorer, the former CEO, remains the company’s executive chair.
The new legal department leadership will have to contend with increased pandemic demand as well as global litigation.