P&G CEO Signals Plan to Vacate Post
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According to a report this past week by the New York Times, New York City, N.Y., USA, Procter & Gamble Co. (Cincinnati, Ohio) appears to be laying the groundwork for CEO A.G. Lafley to step down as soon as this summer and hand the top job to an internal successor.
In private meetings with Wall Street analysts and investors, senior P&G executives including Lafley himself have made comments that signaled the 67-year-old CEO, now in his second turn at the helm, could vacate the post this year, people who attended the meetings said. Lafley is likely to remain chairman for another year or two to help smooth the transition to a new CEO, several analysts have concluded.
According to the report’s analysis, this leadership change could set up another period of uncertainty for the world's largest maker of household products. The maker of Pampers diapers, Olay skin creams, and Bounty paper towels has struggled to post solid sales growth since the 2007-2009 economic recession ushered in an era of pickier and more frugal consumers. P&G also faces challenges including a struggling beauty business and a strong dollar that hurts its overseas earnings. The company reports results for the first three months of 2015 on April 23.
