Gillette Names New President, COO

Gillette Co., which has seen its earnings nicked by foreign exchange rates, said it named Edward DeGraan as its new president and chief operating officer. DeGraan, 57, was executive vice president of global business management for Gillette, which also makes Duracell batteries, Oral-B toothbrushes and Braun appliances. As part of the promotion, announced by Gillette’s Chairman and Chief Executive Michael Hawley, DeGraan was also elected to the company’s board. Boston-based Gillette last week reported second-quarter earnings that rose 2%, despite being hurt by currency rates, and said it expects the sale of its stationery products unit to reduce earnings in the second half. Gillette’s shares closed up 44 cents at $30.19 on the New York Stock Exchange.