Gillette Names Former Nabisco Head Kilts New Chairman, CEO

Gillette (G Quote - Cramer on G - Stock Picks) named James M. Kilts, the former president and chief executive of Nabisco Holdings, as chairman and CEO.

Kilts, 52 years old, will replace Edward DeGraan, who has been with the Boston-based company for 32 years. Kilts will assume his responsibilities Feb. 12. DeGraan became acting CEO after Michael Hawley was ousted in October.

Before joining Nabisco, Kilts served as executive vice president of the worldwide food group of Philip Morris (MO Quote - Cramer on MO - Stock Picks).

Shares of Gillette recently climbed 63 cents, or 1.9%, to $34.31 on the New York Stock Exchange.