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.
Procter & Gamble unveiled a larger than expected cost-savings program that involves cutting a total of 5,700 nonmanufacturing jobs in an effort to trim costs by the end of fiscal 2016, said P&G CEO Bob McDonald during the company’s annual Consumer Analyst Group of New York conference in Boca Raton, Fla.
Procter & Gamble’s former chairman and CEO John Smale — who was instrumental in creating a new vision for P&G to be a truly global company focused on providing an even broader range of innovative products to the world’s consumers — died on Nov. 19. He was 84.
Procter & Gamble chairman, president and CEO Bob McDonald acknowledged during the company's annual meeting on Tuesday that P&G has “work left to do to deliver the growth” shareholders expect but stressed that the company is making solid progress in fiscal year 2011 despite business and economic challenges.