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Proctor & Gamble CEO submits resignation

Published May 28, 2013
By
Philip Nations Contributing Editor

Dive Summary:

  • Proctor & Gamble has announced that Alan George "A. G." Lafley will rejoin the company as president and CEO, replacing former CEO, Bob McDonald.
  • Lafley was president and CEO of the company from 200 to 2009. He will also serve as chairman on the board of directors.
  • McDonald’s departure was due to “a number of personal reasons” according to sources. P&G posted a rise in third quarter sales of 2% as net earnings per share rose a total of 7%.

From the article:

According to the same Reuters report, "the move comes as some investors have pushed for faster improvements from the maker of Tide detergent and Gillette razors. P&G unveiled a $10 billion restructuring program in February 2012. 

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