Post by The Big Daddy C-Master on Aug 3, 2015 12:07:15 GMT -5
www.investopedia.com/stock-analysis/073115/procter-gamble-picks-new-ceo-pg.aspx?utm_source=investopedia-advisor-free&utm_medium=email&utm_campaign=SWW-8/3/2015
By Investopedia | July 31, 2015 AAA |
The Wall Street Journal is reporting that consumer goods giant Procter & Gamble (NYSE: PG) has selected its next leader, David Taylor. The 56-year old Taylor is a longtime veteran of the company. He joined in 1980 and has since held a raft of positions, both in the U.S. and abroad. At the moment, he is head of the company's beauty, grooming, and healthcare businesses. Taylor was widely expected to be named to the CEO post.
The man currently in that position, A.G. Lafley, will remain at the company to serve as its chairman, according to the WSJ. Lafley is serving his second stint as CEO after coming out of retirement in 2013 to accept the job. He previously ran Procter & Gamble from 2000 to 2009.
Although it is a very profitable company, and its stock is heralded as a blue chip, Procter & Gamble has struggled in recent years to grow its top and bottom lines. Efforts at reducing its brand portfolio have not yet resulted in meaningful advancements in those line items.
Change at the top is typically good in such circumstances, as a company can benefit from new blood in the executive suite. Procter & Gamble's recent difficulties, however, are not due to leadership. Rather, they are the result of a proliferation of stale, laggard brands. Going forward, a bigger factor for the company than a new CEO will be what is left after its divestment process is completed. It needs to start posting better growth numbers in order to revive investor interest in its fortunes.
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