CINCINNATI — The Procter & Gamble Co. board, which met here yesterday, was expected to approve a succession plan naming Robert McDonald, P&G’s chief operating officer and a 29-year P&G veteran, to succeed A.G. Lafley as chief executive officer, according to numerous media reports.
A P&G spokesman declined to comment on the reports. Speculation on Lafley’s retirement has been brewing especially with the announcement in March of Susan Arnold’s retirement. Arnold, president of P&G’s global business units, was said to be a CEO candidate along with McDonald.
Lafley became CEO in 2000 and has been P&G chairman since 2002. He has appeared on SN’s Power 50 list of the most influence people in the food industry since the list’s inception in 2003. Lafley is expected to remain chairman for the next several years, according to the reports.
McDonald joined P&G in 1980 and was named vice chairman – global operations in 2004 and COO in 2007.
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