P & G reigns back with Lafley
May 25 , 2013
Top US consumer products company Procter & Gamble (P & G) has replaced Chairman and CEO Bob McDonald with its former CEO A.G.Lafley. The Cincinnati-based maker of global products such as Tide, Pampers, Olay, and Duracell announced the immediate retirement of 59-year-old McDonald who has been blamed for the slow revenue growth and inconsistencies in delivering results.
McDonald ended a 33-year long career stint with P&G. A.G. Lafley had served as the P & G CEO between 2000 and 2009 and had dominated the global consumer products market. In recent years, the organization with its staff strength of 126,000 employees has started losing out to rivals like Unilever. A.G.Lafley has now been reinstated as the Chairman and CEO of P & G.