Ex-Nabisco Holdings Chief to Head Gillette

Gillette Co. named former Nabisco Holdings Corp. Chief Executive James Kilts chief executive and chairman, choosing an outsider to head the world’s largest maker of razors for the first time in 70 years. The maker of Mach3 razors and Duracell batteries began a search for a new leader in October when its board ousted Michael Hawley after 18 months of declining sales, sluggish earnings and a falling stock price. Kilts’ appointment is effective Feb. 12. During his 30 months at Nabisco, Kilts, 52, fired thousands of workers, closed plants and sold lagging products to focus on top brands such as Ritz crackers. Investors say Kilts faces a similar challenge at Gillette. The company has reduced earnings or sales forecasts seven times in the last 19 months as it has struggled to boost sales of Duracell and Braun appliances. Shares of Boston-based Gillette, which have fallen by almost half since March 1999, rose 56 cents to close at $34.25 on the New York Stock Exchange.