A.G. Lafley to Become Executive Chairman
Company Website:
http://www.pg.com
CINCINNATI -- (Business Wire)
The Procter & Gamble Company (NYSE: PG) announced today that David S.
Taylor, Group President of Global Beauty, Grooming and Health Care, will
succeed A.G. Lafley as Procter & Gamble’s President and Chief Executive
Officer, effective November 1, 2015. Mr. Taylor has been appointed to
the Company’s Board of Directors. On November 1, 2015, A.G. Lafley will
become Procter & Gamble’s Executive Chairman. In this role, Mr. Lafley
will lead the Board of Directors, and provide advice and counsel to the
CEO and P&G leadership on Company and business strategies, portfolio
choices, and organization decisions.
This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20150728006849/en/
David S. Taylor (Photo: Business Wire)
Jim McNerney, lead director of P&G’s Board, said, “We thank A.G. for
returning as CEO to lead P&G’s transformation. The Company is now
organized into four industry-based sectors with a focused portfolio of
10 categories and 65 brands that play to P&G’s strengths. Productivity
results are strong and sustainable. Stronger category business and
product innovation plans are in place. Now is the time to transition to
David as CEO, while continuing to benefit from A.G.’s strategic counsel
as Executive Chairman.”
Mr. McNerney expressed the Board’s confidence in David Taylor. “David is
a proven leader who has the experience and track record of delivering
results. He has a broad understanding of P&G’s business, having worked
on several categories in multiple regions around the world. He has
helped build many of the Company’s most successful brands and
businesses. The Board is confident that David will lead P&G to execute
the company’s strategies to win with consumers, and improve shareholder
value.”
Mr. Taylor joined P&G in 1980. He has helped to build many of P&G’s core
businesses, including Baby Care, Family Care, Hair Care and Home Care.
He has led global businesses, and lived and worked in North America,
Europe, and Asia. Most recently, Mr. Taylor served as Group President of
Global Beauty, Grooming and Health Care. Prior to that, Mr. Taylor was
responsible for Family Care and Home Care, both of which delivered
consistent double-digit profit and mid-single-digit sales growth under
his leadership. He has worked closely with Mr. Lafley on the Company’s
strategy to strengthen and focus P&G’s business and brand portfolio.
“I am honored to serve as P&G’s CEO,” said Mr. Taylor. “I believe in the
power of P&G people, brands, products and values. P&G is transforming to
be a faster-growing, more profitable Company. I am committed to the
strategies, and look forward to leading the people of P&G to win with
consumers, drive growth and create shareholder value.”
A.G. Lafley served as CEO from 2000 to 2009, and returned from
retirement to serve as CEO in 2013. Since 2000, Mr. Lafley has played a
central role in leading P&G to double the Company’s sales and nearly
triple its market capitalization, resulting in significant value
creation for shareholders. Since 2013, Mr. Lafley has led the P&G team
to focus and balance the Company’s goals, strategies, portfolio and
structure for improved performance.
“We are leading P&G’s most comprehensive transformation in our history,”
said Mr. Lafley. “We are a more focused and balanced company, committed
to winning with consumers and creating value for shareholders. We have
strengthened our brand and product innovation pipeline, while
streamlining our cost structure. With our plans for portfolio
realignment essentially complete, P&G is positioned to deliver improved
results. The Board and I are confident that now is the time to
transition the CEO role to David who will sharpen the strategies and
lead the execution of the next important phase of building a better P&G.”
Upcoming Webcast
The Company’s previously scheduled earnings
webcast will take place this Thursday, July 30, 2015 at 8:30 am EDT. You
may access the webcast by going to: http://www.pginvestor.com.
About Procter & Gamble
P&G serves consumers around the
world with one of the strongest portfolios of trusted, quality,
leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®,
Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®,
Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®,
Tide®, Vicks®, and Whisper®. The P&G community includes operations in
approximately 70 countries worldwide. Please visit http://www.pg.com for
the latest news and information about P&G and its brands.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150728006849/en/
Contacts:
P&G Media Contacts:
Jennifer
Corso, 513-983-2570
or
Craig Buchholz, 513-983-0459
or
P&G
Investor Relations Contact:
John Chevalier, 513-983-9974
Source: Procter & Gamble
© 2024 Canjex Publishing Ltd. All rights reserved.