Procter and Gamble announces retirement of board members

Procter and Gamble has confirmed that Charles Lee and Dr Ralph Snyderman have retired from its board of directors after reaching their 70th birthdays.

Mr Lee and Dr Snyderman, who held positions as the company’s audit committee chair and innovation and technology committee chair respectively, have stepped down in accordance with the company’s customary retirement age for directors.

Both men have been directors at the company since the mid-1990s and previously served in positions at major firms such as Verizon Communications, United Technologies and Targacept.

Patricia Woertz will step into Mr Lee’s role as chair of the audit committee, while Dr Snyderman will be succeeded as leader of the innovation and technology committee by Scott Cook.

Bob McDonald, Procter and Gamble’s chairman of the board, president and chief executive officer, said: “Chuck and Ralph have served Procter and Gamble’s board with distinction for more than 15 years. Their insights, counsel and leadership have been invaluable.”

Earlier this month, the company launched its new Crest and Oral-B 3D White range, a line of consumer dental products designed to help whiten teeth.