Procter & Gamble Brings Back ‘Consumer Is Boss’ CEO

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

ProcterAndGambleLogo[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.

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  2. PG:
  3. is the new CEO:
  4. moved to cut costs:
  5. had faced growing investor discontent: http://McDonald%20had%20faced%20growing%20investor%20discontent%20over%20P&G

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