David S. Taylor Appointed P&G President and Chief Executive Officer
July 28 2015 - 5:30PM
Business Wire
A.G. Lafley to Become Executive
Chairman
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.
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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 WebcastThe 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 & GambleP&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.
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P&G Media Contacts:Jennifer
Corso, 513-983-2570orCraig Buchholz, 513-983-0459orP&G Investor Relations Contact:John Chevalier,
513-983-9974
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