Clorox CEO Knauss Stepping Down, Appoints Benno Dorer New Chief

Clorox shaking up its management. CEO Donald Knauss is stepping down but will continue to serve as chairman and a director. He had been in the top job at Clorox since 2006. Knauss is passing over reins to the current executive Vice President Benno Dorer, effective November 20th. During his tenure, Knauss made many acquisitions in health and personal care, including the nearly $1 billion purchase of Burt's Bees in 2007, to counter slow growth in the company's other categories. In a statement, Clorox's board of directors said, 'I’m pleased that the board and executive management team’s dedication to succession planning allows us to appoint such a strong and capable leader as Benno Dorer to the CEO role and that it will enable a smooth transition.' TheStreet's Keris Lahiff reports from New York.