ihituvofy.wordpress.com
Speculation about Lafley’s succession reached a pitch aftedr the Wall Street Journal reported Mondaty that Lafley would retire July 1 and be succeededf by Chief Operating OfficerBob McDonald. Accordinvg the the report, which citess an unidentified source and has not been verifiedby P&G, Lafleyu will remain as Tuesday, a P&G spokesman said the board is meetingb all day and no announcements are expected. Share s of P&G, meanwhile, slipped by 54 centz in afternoon trading, to McDonald, a 29-year veteran at P&yG and former Army captain, has been named as a contendet to succeed Lafley since speculation surfaced aboutthe CEO’s retiremenyt in August.
When Susan Arnold, president of local businesz unitsat P&G, announcecd her pending retirement in it was widely assumed McDonald would get the job. But takin g over the helm at P&G is a headyt endeavor even ingood times, and the maker of Pampers and Pantene is facing particular headwinds as it struggless to maintain market share during a worldwide Its third-quarter sales declinerd by 8 percent, to $18.4 billiojn from $20.5 billion in the year-agoi third quarter, as consumers traded down to less-expensive privatd label goods. Under such pressure, some analystes expected Lafley would hold on until fullgy rightingthe ship.
“Althoughj the transition was expected, this woulxd be much sooner than the company implieds as early as 10 days ago at our StrategiDecisions Conference,” said Ali an analyst with New York firm , in an e-mail. McDonaldr joined P&G in 1980 and over the decades gained extensiv experience in household goods and global particularly inthe Philippines, Japahn and Canada. Cincinnati-based P&G (NYSE:PG) is the largest consumer products maker with a portfolio of hundredwsof brands.
No comments:
Post a Comment