Lafley leaves P&G
The company’s current CEO David Taylor will become chairman of the board on July 1. The first time Lafley stepped down (in 2009, after 9 years in the seat) Bob McDonald was his successor.
Lafley returned as chairman in 2013 “after investors lost confidence in [McDonald],” as the Cincinnati Business Courier reports.
Thanks for that
Lafley got his start with P&G in 1977 and held several roles on the home care side of the business and subsequently regional leadership roles in the Far East, Asia, and then North America. In 1999 he became president for Global Beauty Care and North America; all this before serving as executive chairman, president, and CEO of the company.
Taylor is grateful for the work his predecessor has done for the company: “I want to recognize and thank A.G. for his legacy of leadership at P&G,” he says in a company press release about the leadership changes. “Over the past three years in particular, A.G. was instrumental in leading our strategic, leadership and cultural transformation, rationalizing our portfolio, instituting a productivity mindset, and building our global leadership team.”
And it seems like that he’ll be long remembered for streamlining the P&G portfolio down to just 65 brands. “We are now better positioned for the long term to address both the challenges and opportunities before us,” says Taylor.
Moving on up
Taylor joined the company only 3 years after Lafley did and has held numerous roles in hair care, family care, baby care, and beauty. The company press release highlights the fact that both family care and home care “delivered consistent double-digit profit and mid-single-digit sales growth under his leadership.”
While no clear strategy has been outlined publically by the new chair, it appears as if P&G and its stakeholders are hoping that Taylor continues Lafley’s style of leadership. “Taylor and Lafley have worked closely together in the past year on the Company’s strategy to strengthen and focus P&G’s business and brand portfolio,” submits the release.
