Procter and Gamble announces new appointment

Procter and Gamble (P&G) has announced a new managing director for its Thailand and Vietnam operations.

Raul Falcon will take over from Parinda Hasdarngkul, with Ms Hasdarngkul moving to the role of Thai marketing director for the Association of Southeast Asian Nations.

Mr Falcon will initially focus on the hair and facial care sectors, along with male grooming, as well as being responsible for attracting employees to the company.

Ms Hasdarngkul will be overseeing the marketing of the company’s packaged goods brands in Thailand, Malaysia, Singapore, Indonesia and Vietnam.

In other news earlier this month, P&G announced a final proration factor of 7.89144 per cent for shares tendered in the Folgers exchange offer.

The company’s Folgers coffee subsidiary was formerly a wholly owned subsidiary, however a subsidiary of JM Smucker merged with and into Folgers, with the latter surviving as a wholly owned subsidiary of Smucker.

As a result of the transaction, P&G has now said that it expects to gain approximately $0.63 (0.41 pounds) per share from the deal, an increase of $0.13 per share from the previous estimate.

The company has also said that it expects earnings per share of between $1.58 and $1.63 for the October to December quarter.