P&G shakes up exec board in drive to boost personal care sales
David Taylor is currently the company’s group president global health and grooming, and is set to grow his responsibilities to also cover P&G’s beauty business, revealed an article in Fortune magazine’s online portal that has subsequently been followed by most major news providers.
Taylor is a P&G veteran, having joined the company back in 1980 as a production manager. He has since worked his way through the ranks, working on the manufacturing side, before shifting over to brand management, and then working his way up to president of global family care.
New role lines Taylor up for CEO position?
A.G. Lafley has made it clear from the start of his second stint as P&G CEO that he did not intend to hold on to the position for the long-term.
Lafley retired as P&G CEO in 2010 after being credited with revitalizing the company, but took the helm for the second time in May 2013, after Bob McDonald stepped down from the position during a tenure that saw the company’s results flag.
P&G’s global beauty business has seen some of the most difficult challenges in recent years, with margins squeezed by intense competition and tough trading conditions.
Investors and industry experts alike believe that Taylor’s appointment, which now puts him in charge of two of the company’s four business divisions, makes it likely that he is preparing to take over the position of CEO, once it is decided that the time is right for Lafley to go.
Executive reshuffle
Taylor will take over the position as head of the beauty division from Deb Henretta, who has subsequently been appointed to the position of global president of e-commerce.
Backing Taylor up in his new responsibilities, P&G have also said that Patrice Louvet, previously in charge of the prestige business, will now become group president of global beauty, reporting to Taylor.
