P&G appoints new president and chief executive officer

P&G appoints new president and chief executive officer

CINCINNATI, OH (FOX19) - Procter and Gamble announced Tuesday that David Taylor will succeed A.G. Lafley as Procter& Gamble's president and chief executive officer, effective November 1. Taylor also has been appointed to the company's board of directors.

"David is a proven leader who has the experience and track record of delivering results. He has a broad understanding of P&G's business, having worked on several categories in multiple regions around the world. He has helped build many of the company's most successful brands and businesses. The Board is confident that David will lead P&G to execute the company's strategies to win with consumers, and improve shareholder value," Jim McNerney, lead director of P&G's board, said in a release.

Taylor joined P&G in 1980. According to a release, he helped build many of the company's core businesses, including baby care, family care, hair care and home care. Most recently, Taylor served as group president of global beauty, grooming and health care.

"I believe in the power of P&G people, brands, products and values. P&G is transforming to be a faster-growing, more profitable Company. I am committed to the strategies, and look forward to leading the people of P&G to win with consumers, drive growth and create shareholder value," said Taylor, in a release.

Lafley will become P&G's executive chairman, in which he will lead the board of directors and provide advice and counsel to the CEO and P&G leadership on company and business strategies, portfolio choices and organization decisions.

He served as CEO from 2000 to 2009 and returned from retirement to serve as CEO in 2013.

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