Former Procter & Gamble president and CEO and current chairman A.G. Lafley is to leave the business in February, the Pringles maker said today (8 December).
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Lafley spent nine years at the helm of P&G from 2000 but was replaced as CEO in July by the company’s COO, Bob McDonald.
“I am retiring with confidence in Bob McDonald and his team,” Lafley said. “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.”
In October, P&G posted a 1% dip in profits as sales were dented by the strength of the US dollar. Sales dropped 6% to $19.8bn; nevertheless, organic sales were up 2%.
