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News
Close shave at market open
June 26, 1998: 12:32 p.m. ET

NYSE president kicks off Gillette Mach3 launch by shaving his beard
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NEW YORK (CNNfn) - Giving another meaning to the term "casual Friday," the president of the New York Stock Exchange got a new look at Friday's opening bell.
     In celebration of Gillette Co.'s Mach3 razor hitting store shelves, NYSE President William Johnston did something he hadn't done in 17 years: He shaved his beard.
     Johnston agreed to shave his beard to benefit charitable causes. Gillette (G) Chairman and Chief Executive Officer Alfred Zeien rang the opening bell alongside Johnston.
     Gillette has said the "Mach3" three-bladed razor, whose catchy moniker is the culmination of $750 million of research and development, is expected to gain up to a 30 percent market share.
     "We plan to sell in two years 50 percent more than [the Sensor blade] sold in four," Zeien told CNNfn.
     Shares of Gillette (G) gained 1-3/16 to 56-3/8 in midday trading. Back to top

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Gillette sets Mach3 launch - April 14, 1998
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