Procter & Gamble has appointed David Taylor as its new CEO. A.G. Lafley, the previous CEO, guided Taylor into his new position and will now become chairman of the board.
35 years at P&G
Taylor and Lafley will continue to work closely together as Taylor will take care of the day-to-day business while Lafley will assist him in several areas, like strategy, innovations and acquisitions. Both have collaborated for the past 20 years, which is why Taylor's appointment is considered a safe bet.
Taylor, who has gone through the ranks at Procter & Gamble, mainly made a name for himself with Febreze as he helped guide the brand through the 1 billion dollar turnover barrier. After nearly 35 years at the company, he will now take the reins of a company that has been selling plenty of brands over the past few years, including its perfume and cosmetics brands to Coty at the start of the month (for a sum of 12 billion dollars, 11 billion euro).