NEW YORK — Procter & Gamble is bringing back former CEO A.G. Lafley, a 33-year industry veteran, to its top post in a surprise move as the world’s largest consumer goods maker tries to improve its results globally.
Lafley, 65, replaces CEO Bob McDonald, effective immediately. McDonald, who will retire June 30 after a transition period, served as CEO since 2009. Lafley, who is also taking the president and chairman titles, previously held the role from 2000 to 2009.
“A.G.’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 board director Jim McNerney.