Alan George Lafley has, quite literally, taken Procter & Gamble Co. into the 21st century. When Lafley was named president and chief executive officer of the Cincinnati-based consumer-products giant in June of 2000, he inherited what many have described as a stodgy, stiff-collared company, bent on growth but with no clear strategy for doing so. It had just warned investors that it would not meet analysts' profit expectations, and its stock was dropping sharply. But it didn't take ...

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