News & Scoops

2009 December 8

A.G. Lafley Leaves Proctor & Gamble

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(NEW YORK) A.G. Lafley, chairman of Proctor & Gamble Co., will retire from the company early next year, leaving current president and CEO Robert McDonald to succeed him. Lafley became chief executive officer of the Fortune 500 corporation, which includes such brands as Olay, Crest, Gilette, and Ivory, in 2000, and McDonald took on the CEO role on July 1 of this year as part of the management transition. Lafley will relinquish his post as chairman on January 1 and will retire from the company on February 25, 2010. "I am retiring with confidence in Bob McDonald and his team," Lafley said in a statement. "Our strategies and plans are working; the company delivered a strong July--September quarter and we expect sequential improvement over the balance of the fiscal year."

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