Procter & Gamble has named the top executives who will lead its four newly created business divisions, and likely frontrunners for the CEO role, as the FMCG firm looks to accelerate the growth of its brands.
The new global divisions are baby, feminine and family care, homecare, beauty and health and grooming expanding the previous two business units. See below for the executives.
The new structure, which was rumoured last week, has been designed to drive faster global expansion of P&G’s brands and innovations and improve financial performance, the company sys.
P&G says the divisions have been created around brands and sectors that share common consumer benefits and technologies, and face common competitors.
CEO AG Lafley says: “This will strengthen our focus on go-to-market excellence in our core developed and developing markets. Taken together, these organisation changes will help us operate better and faster as one unified team to win.”
“This sector organisation and leadership team will help us operate more effectively and efficiently to continue momentum behind P&G’s growth strategies. These changes build on the productivity and organisation design work led by Bob McDonald, and will help us get closer to consumers and become more agile with customers.”
The changes are not thought to have a significant impact on marketing teams as P&Gs structure already has senior marketers in place by brand and category for global, regional and country teams.
Additionally, Charles Pierce, currently group president of global oral care, will take on additional responsibility for new business creation and innovation.
It is thought the four execs are also being lined up as potential successors for AG Lafley as CEO. Lafley took over from Bob McDonald as CEO last month.
The changes come into force on 1 July.