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08/02/2021

P&G Names New CEO

Jon Moeller will take over as CEO and president of Procter & Gamble, effective Nov. 1.
Jon Moeller headshot
Jon Moeller

Moeller, who currently serves as vice chairman and chief operating officer, succeeds David Taylor as head of the consumer goods giant. At the time of the transition, Taylor will take on the role of P&G’s executive chairman, where he will lead the board of directors and provide advice and counsel to the CEO and P&G leadership.

“We thank David for his strategic leadership and guidance over the last six years as the Company has returned to consistent balanced growth and value creation,” said James McNerney, lead director of P&G’s board. “A strong plan for sustained success is in place and the Board unanimously agrees that now is the time to transition to Jon as CEO. We are fortunate and grateful to have David continue as [e]xecutive [c]hairman.”

Moeller has been with P&G since 1988 and joined the leadership team in 2009, serving as chief financial officer, COO and vice chairman. He has held a variety of leadership roles across categories, sectors and regions, and helped build several of P&G’s core businesses.

“I am honored to serve as P&G’s CEO,” Moeller said. “My confidence in the future is rooted in my confidence in P&G people. They are committed to lead, motivated to win, and have a strong focus on sustained excellence in everything we do--serving consumers and delivering for shareholders through an integrated strategy that is delivering balanced growth and value creation.”

Shailesh Jejurikar has been named COO, effective Oct. 1. He will report to Moeller, and his successor will be announced at a later date. Jejurikar currently serves as CEO of P&G’s largest business unit--the fabric and home care sector.

“It has been an honor of a lifetime being the CEO of P&G, and I am incredibly grateful for the support of P&G’s Board, lead team and P&G people everywhere. Together, we have established strong momentum through an integrated strategy that is being executed with excellence,” Taylor said. “The Board and I are confident the time is right to transition the role of CEO, and I look forward to supporting Jon, Shailesh and the entire team as they continue to raise the bar to win with consumers and customers around the world and deliver sustained excellence.”

In addition, P&G announced its fourth quarter and fiscal year 2021 financial results, reporting $76.1 billion in sales--a 7% increase from fiscal year 2020. P&G’s fiscal year ended June 30. During the fourth quarter alone, the company reported $18.9 billion in sales, up 7% from the prior year. During the quarter, P&G saw strong growth in its beauty, grooming and health care segments. 

“We delivered another year of strong results with balanced top and bottom-line growth and strong cash generation, exceeding each of our in-going targets,” Taylor said in the earnings report. “We built strong momentum prior to the pandemic and have strengthened our position further. As we look forward to fiscal 2022, we expect to continue to grow top-line and bottom-line and to deliver another year of strong cash return to shareholders despite a challenging cost and operating environment.”