CINCINNATI: Procter & Gamble is reorganizing its business into four new divisions, the first big change at the world’s largest consumer products maker since A.G. Lafley returned as CEO nearly two weeks ago.
The changes are effective July 1. Each of the four divisions will be headed by a group president, expanding the responsibilities for four current executives. The move is key as one of Lafley’s tasks is to create a succession plan.
Lafley, who previously served as CEO from 2000 to 2009, replaced CEO Bob McDonald on May 23. The changes come as the Cincinnati company seeks to spur growth in emerging markets and improve profit and revenue globally.
Procter & Gamble’s divisions include: baby, feminine and family care; beauty; health and grooming; and fabric and home care.