June 11, 2009

Procter & Gamble make leadership change

U.S. consumer products giant Procter & Gamble Co. Thursday announced a leadership change, naming a new chief executive officer.

A.G. Lafley, the company's current chairman and CEO will move to a full time position as chairman, allowing Chief Financial Officer Robert McDonald to move into the CEO position, effective July 1, the company said.

A.G. Lafley has led the transformation of P&G over the past nine years, director of the company's board Jim McNerney said. P&G is a far more consumer-driven, externally focused and innovative company than it was a decade ago, he said.

McNerney said McDonald was the most broadly and globally experienced CEO in P&G history, with 30-years experience in brand-building, market development, global business unit and global operations leadership experience.

Lafley said McDonald has my complete confidence and support.

He believes in P&G's Purpose and P&G people to his core, he said.