CINCINNATI Procter & Gamble has announced that John Smith is retiring from the board after 13 years of service.
“Jack has been an outstanding board member who has made significant contributions to the success of P&G’s business,” stated A.G. Lafley, P&G’s chairman and chief executive officer. “We thank him for his tireless efforts and wish him continued success in the future.”
Smith, who has served on the board since 1995, was chairman of the audit committee and a member of the governance and public responsibility committee. He was formerly chairman of the board and chief executive officer of General Motors and is retired chairman of the board of Delta Air Lines. He is also a director of Swiss Reinsurance Co.
In other moves, Kenneth Chenault, chairman and chief executive officer of American Express Co., has been appointed to P&G’s board.
Chenault joined American Express in September 1981 from Bain & Co. and held several senior management positions at the company prior to his appointment as chairman and chief executive officer in 2001.