Incoming Procter & Gamble boss AG Lafley yesterday said that a sense of “duty” had persuaded him to return to his former job at the consumer goods giant.
P&G said yesterday that Bob McDonald would leave in the midst of a major restructuring demanded by investors. Mr Lafley is taking on the roles of chairman, president and chief executive. Mr McDonald is to retire on June 30 after 33 years at P&G. Mr McDonald had been Mr Lafley’s hand-picked successor.
Mr Lafley, who will be 66 next month, said: “Bob retired, the board called me and I felt like duty called. I’m back to help maintain the business momentum and keep this productivity programme going.”
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