Mars and Procter & Gamble announced that Mars has agreed to buy the Iams, Eukanuba and Natura brands for $2.9 billion in cash. The purchase is part of a strategic move for Mars to complement its burgeoning global petcare business.
Procter & Gamble has announced a string of organization changes, including the retirement of 37-year company veteran Dimitri Panayotopoulos, vice chairman and adviser to the chairman and CEO, effective Jan. 2, 2014.
Procter & Gamble has established consumer and shareholder value creation as a top priority and outlined four areas to improve performance, chairman, president and CEO A.G. Lafley told the company’s shareowners at its annual meeting Tuesday in Cincinnati.
With former chief A.G. Lafley back at Procter & Gamble as president and CEO, the company is grouping its Global Business Units into four industry-based sectors to support its current growth strategies of strengthening developed market businesses, maintaining developing market momentum, building a strong innovation pipeline and driving productivity improvements.