Taylor has been with the consumer goods firm for 35 years, working in many business units including Baby Care, Family Care, Hair Care, and Home Care, before leading the Beauty business most recently.
“P&G is transforming to be a faster-growing, more profitable Company. I am committed to the strategies, and look forward to leading the people of P&G to win with consumers, drive growth and create shareholder value,” he said on his appointment, which takes effect in November.
The beauty boss takes over from A.G. Lafley, who returned to the company as CEO in 2013 having previously served in the role from 2000-2009.
Lafley will become P&G’s Executive Chairman, leading the Board of Directors, and providing advice and counsel to Taylor and P&G leadership on Company and business strategies, portfolio choices, and organization decisions.
“We thank A.G. for returning as CEO to lead P&G’s transformation. The Company is now organized into four industry-based sectors with a focused portfolio of 10 categories and 65 brands that play to P&G’s strengths. Productivity results are strong and sustainable. Stronger category business and product innovation plans are in place,” says Jim McNerney, lead director of P&G’s Board.
“Now is the time to transition to David as CEO, while continuing to benefit from A.G.’s strategic counsel as Executive Chairman.”
The Board believe Taylor is the best man for the job due to his track record of delivering results and his broad understanding of the company’s business, having worked on several categories in multiple regions around the world.
“He has helped build many of the Company’s most successful brands and businesses. The Board is confident that David will lead P&G to execute the company’s strategies to win with consumers, and improve shareholder value,” adds McNerney.