Procter and Gamble announces ‘organisational changes’

Procter & Gamble (P&G) has announced a number of organisational changes to its management.

The firm has reported the planned retirement of global marketing officer James R Stengel effective from the end of October 2008.

It said Mr Stengel will work on special projects until that time, while continuing to report to chief operating officer Robert A McDonald.

Current president of strategy, productivity and growth Marc S Pritchard will replace Mr Stengel as global marketing officer from August 2008 and will also report to Mr McDonald.

AG Lafley, chairman of the board and chief executive officer of P&G, said: “Jim Stengel has reinvigorated P&G’s marketing function and strengthened P&G’s capability as one of the world’s leading brand builders.”

He added that Mr Stengel has challenged traditional marketing models and set new standards to help change the way the company markets its brands, with marketing more rooted in deep consumer understanding.

Mr Lafey noted that Mr Pritchard has worked alongside Mr Stengel for two years and will leverage his brand-building experience in his new role.

Earlier this month, P&G exercised its option to end its partnership agreement with ARYx Therapeutics regarding compound ATI-7505.