Procter & Gamble’s David Taylor: CEO Analysis

Cincinnati, Ohio-based consumer products giant Procter & Gamble (PG) needs no introduction.

The company has been in business over 180 years – bringing you products like Tide, Gain, Gillette, Pantene, Crest, Febreze, Pampers and Charmin – and has not only paid but also increased its dividend for 62 straight years.This makes the company one of a member of the exclusive Dividend Kings list.

However, you might not be as familiar with the man at head of the business, CEO David Taylor.

David Taylor

Source: Business Wire

David Taylor Named CEO of Procter & Gamble (2015)

On July 28th, 2015 Procter & Gamble announced that David Taylor would become President and CEO as of November 1st, 2015. Here’s what the company had to say about Taylor when the announcement was made:

“Mr. Taylor joined P&G in 1980. He has helped to build many of P&G’s core businesses, including Baby Care, Family Care, Hair Care and Home Care. He has led global businesses, and lived and worked in North America, Europe, and Asia. Most recently, Mr. Taylor served as Group President of Global Beauty, Grooming and Health Care. Prior to that, Mr. Taylor was responsible for Family Care and Home Care, both of which delivered consistent double-digit profit and mid-single-digit sales growth under his leadership. He has worked closely with Mr. Lafley on the Company’s strategy to strengthen and focus P&G’s business and brand portfolio.”

Procter & Gamble’s CEO transition history is an interesting one. A.G. Lafley was at the helm from 2000 until 2009 when he retired. Lafley then returned from retirement in 2013 to “right the ship.” He worked for two years to refocus the company, before turning the reins over to Taylor. Here’s what Lafley had to say at the time of the announcement:

“We are leading P&G’s most comprehensive transformation in our history.”

“We are a more focused and balanced company, committed to winning with consumers and creating value for shareholders. We have strengthened our brand and product innovation pipeline, while streamlining our cost structure. With our plans for portfolio realignment essentially complete, P&G is positioned to deliver improved results. The Board and I are confident that now is the time to transition the CEO role to David who will sharpen the strategies and lead the execution of the next important phase of building a better P&G.”

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