Clorox (CLX) is far from your typical 104-year old consumer packaged goods company.

Under the leadership of CEO Benno Dorer over the last three years, Clorox has managed to unleash a steady stream of innovation that grabs the money right out of people's wallets. That ranges anywhere from new scents on popular Clorox disinfecting wipes to easier-to-pour Brita water pitchers. Factor in the recent launch of all-natural cosmetics under the Burt's Bees name, and this is clearly a company moving nimbly in a retail space where Walmart (WMT) is doing battle with Amazon (AMZN) each second of the hour.

In laying out his vision for the company up to 2020 this week, Dorer signaled the innovation push is far from over -- including in the bleach category.

"For the first time in our history, we are launching a bleach that doesn't just clean and disinfect but it also protects surfaces," Dorer revealed

Dorer took TheStreet inside Clorox' innovation machine, and explained why championing diversity in the workplace is so integral to success.

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