Procter & Gamble announced the following organizational changes:
• James R. Stengel (53), global marketing officer, will retire after 25 years of service, effective October 31, 2008. Until that time, he will work on special projects and continue to report to Robert A. McDonald, chief operating officer, during the transition.
• Marc S. Pritchard (48), currently president of strategy, productivity and growth, has been promoted as global marketing officer, effective August 1, 2008.
“Jim Stengel has reinvigorated P&G’s marketing function and strengthened P&G’s capability as one of the world’s leading brand builders,” says A.G. Lafley, P&G’s chairman of the board and chief executive officer. “Jim has helped change the way P&G markets our brands by challenging traditional marketing models and setting new standards for P&G marketing rooted in deep consumer understanding.”
On Pritchard’s appointment, Lafley adds: “Marc Pritchard is the right leader at the right time to take P&G marketing into the future. He’s a committed brand builder with more than 25 years experience and a proven track record of leadership results. He’s worked side-by-side with Jim Stengel for the past two years to strengthen P&G’s brand-building capability, and his deep knowledge and experience in branding, innovation and go-to-market capability will enable him to drive ongoing brand-building excellence.”