Gillette Nominates Kraft Co-CEO Deromedi to Board

Boston-based The Gillette Company named Estee Lauder Cos. chief executive and president Fred H. Langhammer to its board, and nominated Kraft Foods Inc. co-chief Roger K. Deromedi to the board.

Mr. Langhammer was appointed to serve the final two years of the three-year term of Warren E. Buffett, who will leave the board in May to devote more time to Berkshire Hathaway Inc. The company noted that in light of Buffett’s planned departure from the board, Gillette and Berkshire Hathaway have amended their 1989 agreement. Under the revised agreement, Berkshire Hathaway will no longer have a seat on the Gillette board, and Gillette will retain a modified right of first offer on any shares Berkshire Hathaway may sell in the future.

Mr. Deromedi is also president and chief executive of Kraft Foods International and has been nominated to succeed Richard R. Pivirotto, who will not stand for reelection this year.

Incumbent directors Dennis F. Hightower, Herbert H. Jacobi and Nancy J. Karch were nominated for election to three-year terms at the 2003 annual meeting of stockholders.