Procter & Gamble Brings Back ‘Consumer Is Boss’ CEO

by Christopher Freeburn | May 24, 2013 10:04 am

Procter & Gamble Brings Back ‘Consumer Is Boss’ CEO

ProcterAndGambleLogo Procter & Gamble Brings Back Consumer Is Boss CEO[1]At struggling consumer products maker Procter & Gamble (PG[2]), the old CEO is the new CEO[3].

The company announced on Thursday that it had tapped A.G. Lafley as its new head. If his name sounds familiar to P&G investors, that’s because Lafley was CEO of the household products giant from 2000 to 2009, the Associated Press noted.

Investors liked the news, sending P&G shares up almost 4% in Friday morning trading.

Lafley succeeds his own successor, Bob McDonald, who was named CEO in 2009. McDonald will step down on June 30.

Known for a “consumer is boss” emphasis on product development, Lafley will also become P&G’s president and chairman.

P&G has stumbled in recent years after expanding too quickly in some emerging markets. The company has moved to cut costs[4] and focus on core products and the most profitable markets.

McDonald had faced growing investor discontent[5] over P&G’s poor financial performance.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2010/08/ProcterAndGambleLogo.jpg
  2. PG: http://studio-5.financialcontent.com/investplace/quote?Symbol=PG
  3. is the new CEO: http://hosted.ap.org/dynamic/stories/U/US_PROCTER__GAMBLE_CEO?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-05-24-07-59-49
  4. moved to cut costs: http://investorplace.com/2012/02/pg-will-shed-5700-workers/
  5. had faced growing investor discontent: http://McDonaldhadfacedgrowinginvestordiscontentoverP&G

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