Clorox Chairman and CEO Jerry Johnston Retiring.

OAKLAND, Calif. -- The Clorox Company (NYSE:CLX) (PCX:CLX) today reported Chairman and CEO Gerald E. "Jerry" Johnston has announced his retirement. Johnston suffered a heart attack on March 1, and is at home recovering.

"Jerry informed me of his decision to retire so he can devote his time and energy to his health and family," said Robert W. "Bob" Matschullat, interim chairman and interim CEO. "I understand and respect his decision. We continue to send our strong support and thoughts to Jerry and his family.

"Jerry is a man of vision and has been a great leader at Clorox. Under his leadership, Clorox has performed very well and he leaves a tremendous legacy. Jerry has assured me he will be available for consultation and to help with the transition to a new chief executive.

"Throughout his passionate service to the company, Jerry consistently demonstrated the hallmarks of a successful and visionary business leader: inspiration, focus and innovation. Jerry has been the driving force behind the company's renewed passion and commitment to the consumer and its focus on strategic partnerships. On behalf of all Clorox employees and the board of directors, I thank Jerry for his dedication and service to Clorox. One of Jerry's greatest contributions is the outstanding senior management team he assembled at Clorox. We remain inspired by his leadership and look forward to building on his legacy."

Commenting on his decision, Johnston said: "I'm very proud to have been associated with Clorox for the past 25 years. I will miss working with all the talented, dedicated Clorox people who work so hard every day to deliver products that make consumers' lives easier, healthier and better. I have tremendous confidence in them, the company's leadership team and the direction the company is moving.

"This was a difficult decision, but, at this time, my priority needs to be my health and family. I want to thank everyone who has reached out to us with their best wishes and encouragement."

As a result of Johnston's decision, the board is continuing to implement its corporate succession plan. Under the terms of the plan, Matschullat will continue to serve as the company's interim chairman and interim chief executive officer. The board has formed a search committee and retained executive search firm Spencer Stuart to conduct an internal and external search for a new chief executive officer.

Johnston, 58, was named president and chief executive officer and elected to the board of directors, effective July 1, 2003. In January 2005, he was also named chairman of the board. Prior to becoming CEO, Johnston served as president and chief operating officer, a position he had held since 1999. Johnston joined Clorox in 1981, following 10 years with Procter & Gamble. In 1983, he assumed the post of national sales manager for the Kingsford(R) Products Division. In 1989, he became the company's director of Business Development. He was elected vice president -- Corporate Development and Planning in 1992, vice president -- general manager for Kingsford Products in 1993, and group vice president and a member of the company's executive committee in 1996.

Matschullat, 58, was named interim chairman and interim chief executive officer on March 7, 2006, following Johnston's heart attack. He was previously elected presiding director of The Clorox Company, effective Jan. 19, 2005. A director since 1999, Matschullat was previously elected nonexecutive chairman of the board. Matschullat was previously vice chairman and chief financial officer of The Seagram Company Ltd. Prior to joining The Seagram Company Ltd., he served as head of worldwide investment banking for Morgan Stanley & Co. Incorporated, and was on the Morgan Stanley Group board of directors.

Today's webcast

Today at 10:30 a.m. Pacific time (1:30 p.m. Eastern time), Clorox will host a live audio webcast of a discussion with the investment community regarding the company's third-quarter results. The webcast can be accessed at www.TheCloroxCompany.com/investors/index.html. Following a live discussion, a replay of the webcast will be archived for one week on the company's Web site.

The Clorox Company

The Clorox Company is a leading manufacturer and marketer of consumer products with fiscal year 2005 revenues of $4.4 billion. Clorox markets some of consumers' most trusted and recognized brand names, including its namesake bleach and cleaning products, Armor All(R) and STP(R) auto care products, Fresh Step(R) and Scoop Away(R) cat litters, Kingsford(R) charcoal briquets, Hidden Valley(R) and K C Masterpiece(R) dressings and sauces, Brita(R) water-filtration systems, and Glad(R) bags, wraps and containers. With 7,600 employees worldwide, the company manufactures products in 25 countries and markets them in more than 100 countries. Clorox is committed to making a positive difference in the communities where its employees work and live. Founded in 1980, The Clorox Company Foundation has awarded cash grants totaling more than $62.3 million to nonprofit organizations, schools and colleges; and in fiscal year 2005 alone made product donations valued at $4.9 million. For more information about Clorox, visit www.TheCloroxCompany.com.

Forward-looking statements 

Except for historical information, matters discussed above are forward-looking statements based on management's estimates, assumptions and projections. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed above. Important factors that could affect performance and cause results to differ materially from management's expectations include risks relating to the company's strategy and business operations and uncertainties regarding a change in the company's chief executive officer, among others, and are described in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's Annual Report on Form 10-K for the fiscal year ended June 30, 2005, as updated from time to time in the company's SEC filings.

The company's forward-looking statements in this document are and will be based on then current views and assumptions regarding future events and speak only as of their dates. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by the federal securities laws.