P&G’s Bob McDonald to retire

Published: 24-May-2013

A.G. Lafley is to serve as P&G\'s new President and CEO from June following McDonald’s retirement after 33 years of service

After 33 years of service, Bob McDonald is retiring from Procter & Gamble (P&G) as President and CEO at the end of June. He will be replaced by Alan George “A.G.” Lafley, effective immediately. Lafley, who first joined P&G in 1977 and served as President and CEO from 2000 to 2009, has also been elected to the Board of Directors and will serve as its Chairman.

"A.G.’s track record and his depth of experience at P&G make him uniquely qualified to lead the company forward at this important time. The board expects A.G. to further improve results, implement the current productivity plan, and facilitate an ongoing succession process,” said Jim McNerney, presiding Director of P&G’s Board.

McNerney added: “We thank Bob for his service and note the company’s improving business performance. Under his leadership, the company expanded its business in developing markets, built a strong innovation pipeline, and has made substantial progress implementing a $10bn cost savings and productivity program.”

McDonald joined P&G in 1980 and served as President and CEO from 2009 to 2013.

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