Ian Cook, chairman, president, and CEO of Colgate-Palmolive, headlined the ninth annual Burton Kossoff Business Leadership Lecture Series at Baruch College on Mar. 11, 2014. His prepared presentation was followed by a lively Q&A with current students, alumni, and faculty.
The Q&A covered a wide spectrum, from questions about particular business practices, to broader-based business operations, to career-related how-tos. These six topics made for some memorable moments.
On success:
“Success is what you do and how you do it every day you go to work.”
On his company’s biggest challenge:
“Growth is the toughest challenge in today’s market. Without growth, the ratios don’t get you there.”
On R&D and new products:
“The company continues to put a healthy premium on products with incremental growth potential, because the toughest thing is to change people’s behavior, to get them to adopt a new behavior or product.”
On tailoring products for international markets:
“Mints have much more global appeal than many other foods and tastes [here referring to Colgate-Palmolive’s strong dental care products line]. But when Colgate-Palmolive does tailor its products, it tailors to a local market, not country to country, as Coca-Cola does.”
On sustainability-related practices:
“Of course, Colgate-Palmolive has changed its packaging. But we’ve reduced our impact the most through changes to existing factories and sustainably-designed new facilities as well as through changes to the transportation of product, especially to our worldwide fleets of trucks.”
On running a 200+-year-old company and staying competitive:
“You have to be paranoid that something’s going to get you. [pause] And you have to be frantic to stay close to the consumer.”
Related Article
Leadership & Globalization the Focus of 9th Annual Kossoff Lecture Series
About the Kossoff Lecture Series
The Burton Kossoff Business Leadership Lecture Series was created 11 years ago by Mrs. Phyllis L. Kossoff in memory of her beloved husband and his commitment to Baruch College. A graduate of the class of ’47, Mr. Kossoff was the founder and CEO of Burton Packaging Co., Inc., and a founding member and trustee emeritus of The Baruch College Fund. He was additionally honored by Baruch with an Alumni Allegiance Award.
On hand for the 2014 event, Mrs. Kossoff said of her husband: “Burton lived his life with optimism, devotion, honor, and courage.” Of the lecture series, she says, it is “a family tradition” that allows her to continue her husband’s legacy, “his belief in people and the efficacy of education.”