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Speculation about Lafley’s succession reacher a pitch after the Monday reported that Lafley wouldx retire July 1 and be succeeded by Chief Operating OfficereBob McDonald. According the the which cites an unidentified source and has not been verified by Lafley will remainas Tuesday, a P&G spokesmaj said the board is meeting all day and no announcementsw are expected. Shares of P&G, meanwhile, slipped by 54 centd in afternoon trading, to $52.60. a 29-year veteran at P&G and former Army captain, has been names as a contender to succeed Laflehy since speculation surfaced aboutthe CEO’as retirement in August.
When Susan Arnold, presidenr of local business unitsat P&G, announcee her pending retirement in March, it was widely assumed McDonald would get the job. But takinbg over the helm at P&G is a headyt endeavor even ingood times, and the maker of Pampers and Pantene is facing particular headwinda as it struggles to maintain markeft share during a worldwide Its third-quarter sales declined by 8 to $18.4 billion from $20.5 billion in the year-ago third quarter, as consumers traded down to less-expensive private label goods. Under such pressure, some analysts expected Lafley would hold on untill fully rightingthe ship.
“Although the transition was expected, this woulcd be much sooner than the company implies as early as 10 days ago at our StrategicDecisiona Conference,” said Ali Dibadj, an analystt with New York firm Sanford C. in an e-mail. McDonald joined P&G in 1980 and over the decadesa gained extensive experience in household goodsa andglobal markets, particularly in the Philippines, Japan and Cincinnati-based P&G (NYSE:PG) is the largest consumer products maker with a portfolio of hundreds of
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