AG (Alan George) Lafley has returned to the helm of Procter & Gamble.
Lafley, who joined the fmcg giant in 1977 and was president and CEO from 2000 to 2009, has taken up the same role with immediate effect.
He replaces Robert ‘Bob’ McDonald, who will retire on 30 June after 33 years at the company.
“AG’s track record and his depth of experience at P&G make him uniquely qualified to lead the company forward at this important time,” said Jim McNerney, presiding director of P&G’s board.
“The Board expects AG to further improve results, implement the current productivity plan, and facilitate an ongoing succession process. The board is confident that he will continue improving P&G’s performance.”
Lafley added: “I am looking forward to working with P&G’s outstanding leadership team to continue to improve the company’s performance. I am confident that we will deliver strong innovation, productivity and growth to win with consumers, customers and shareholders.”
Both Lafley and McNerney paid tribute to McDonald who joined P&G in 1980 and has been president and CEO since 2009.