Procter & Gamble is reorganizing its business into four new divisions, the first big change at the world's largest consumer products maker since A.G. Lafley returned as CEO nearly two weeks ago.
The changes are effective July 1. Each division will be headed by a group president, expanding the responsibilities for four current executives. The move is key, as one of Lafley's tasks is to create a succession plan.
Lafley, who previously served as CEO from 2000 to 2009, replaced Bob McDonald on May 23. The changes come as the U.S.-based company seeks to spur growth in emerging markets and improve profit and revenue.
Procter & Gamble's divisions include baby, feminine and family care; beauty; health and grooming; and fabric and home care.