Procter & Gamble CEO Search Continues
Jun 6th 2013 6:50AM
Procter & Gamble Co. (NYSE: PG) has set a management system to identify its next chief executive officer. Former chief executive A. G. Lafley came back recently to replace embattled Robert McDonald.
The company reported:
The Procter & Gamble Company today announced it is grouping its Global Business Units into four industry-based sectors as part of the Company's ongoing plan to improve business performance. These changes support the Company's current growth strategies of strengthening developed market businesses, maintaining developing market momentum, building a strong innovation pipeline, and driving productivity improvements.
"This sector organization and leadership team will help us operate more effectively and efficiently to continue momentum behind P&G's growth strategies," said A.G. Lafley, P&G Chairman of the Board, President and Chief Executive Officer. "These changes build on the productivity and organization design work led by Bob McDonald, and will help us get closer to consumers and become more agile with customers."
New Sector Groups
The businesses in each sector are focused on common consumer benefits, share common technologies, and face common competitors. Each sector will be led by a Group President.
- Martin Riant has been elected Group President of Global Baby, Feminine and Family Care. This Sector includes the following global categories: Baby Care, Family Care, and Feminine Care. Mr. Riant will lead the Sector in addition to his current responsibilities as Group President - Global Baby Care.
- Deborah A. Henretta has been elected Group President of Global Beauty. This Sector includes the following global categories: Beauty Care, Retail Hair Care and Color, Salon Professional, and Prestige. Ms. Henretta will lead the Sector in addition to her current responsibilities as Group President - Global Beauty Care.
- David S. Taylor, currently Group President - Global Home Care, has been elected Group President of Global Health and Grooming. This Sector includes the following global categories: Shave Care, Braun, Oral Care, Health Care and Pet Care. In addition to leading the Sector, Mr. Taylor will assume additional responsibility for the Pet Care business, succeeding Jorge S. Mesquita who is leaving the Company to pursue outside interests. Charles E. Pierce, currently Group President - Global Oral Care, will also assume the additional responsibilities for New Business Creation and Innovation currently held by Mr. Mesquita. Mr. Pierce will report to Mr. Taylor for Oral Care and to Mr. Lafley for New Business Creation and Innovation.
- Giovanni Ciserani has been elected Group President of Global Fabric and Home Care. This Sector includes the following global categories: Fabric Care, Home Care, and Power. Mr. Ciserani will lead the Sector in addition to his current responsibilities as Group President - Global Fabric Care. In connection with this, George Tsourapas, currently Vice President - Fabric and Home Care, Central and Eastern Europe, Middle East and Africa, has been elected President-Global Home Care and P&G Professional, succeeding David Taylor. Mr. Tsourapas will report to Mr. Ciserani.
Filed under: 24/7 Wall St. Wire, Corporate Governance, Management Change Tagged: PG