P&G announce new Chief Executive

Posted by Isobel Drake on 11th June 2009

Consumer products giant Procter & Gamble, has announced a change at the top of their organisation, with Robert McDonald taking over the role of CEO from A.G. Lafley.

Since becoming President and Chief Executive in June 2000, Mr Lafley has overseen a company that has more than doubled sales and has grown its portfolio of billion-dollar brands – from 10 to 23.

“A.G. Lafley has led the transformation of P&G over the past nine years,” Jim McNerney, Presiding Director of P&G’s Board, said. “P&G is a far more consumer-driven, externally focused and innovative company than it was a decade ago.”

“The Board is confident that A.G. and Bob have made the right choices to deal with current economic realities and have built the leadership team to guide P&G through the decade ahead. It’s the right time for Bob to step up as CEO.”

“Bob McDonald is the most broadly and globally experienced CEO in P&G history,” Mr McNerney added. “He has nearly 30 years of brand-building, market development, global business unit and global operations leadership experience across the Company and throughout the world. Bob was elected President and Chief Executive through a rigorous, disciplined and multi-year succession process led by the Board.”

Mr Lafley will stay on as Chairman of the maker of Pringles, Gillette and Duracell products.