P&G consolidates 3 global business units into 2
P&G consolidates 3 global business units into 2
P&G consolidates 3 global business units into 2
Procter & Gamble Co. announced a major reorganization Tuesday, consolidating its three global business divisions into two: beauty and grooming, and household care.
P&G's new global divisions: beauty and grooming, and household care.
The move comes as Robert Steele, vice chairman of P&G's $14.6 billion global health and well-being unit, plans to retire Sept. 1. Effective Tuesday, Steele will become vice chairman of P&G's health-care strategy.
As part of the management move, P&G will split its global health and well-being portfolio between its two new global business units.
Personal health care, which includes Vicks over-the-counter medication; pet care, which includes the Iams brand, and the Pringles snack business will now be run by Dimitri Panayotopoulos, who is vice chairman of P&G's global household-care business.
The oral-care business, including Crest and Oral-B brands, and the feminine-care business, including the Always and Tampax brands, will be overseen by Ed Shirley, P&G's vice chairman of global beauty and grooming.
P&G doesn't plan to name another vice chair, a person familiar with the matter said. Mr. Steele has been one of four vice chairmen.
Mr. Steele, 55, is expected to pursue other career opportunities, including a chief executive post, people familiar with the matter said. He has been with P&G for 35 years, overseeing the launch of brands including Swiffer.
The consumer-products giant last week reported lower-than-expected revenue in its fourth-quarter on continued weakness in developed markets.
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