Procter & Gamble

Procter & Gamble has appointed CEO and president Shailesh Jejurikar as the new chairman of the board. He replaces the retiring Jon Moeller who will leave the company on 14 August. Jejurikar became president and CEO in July last year when he also took over from Moeller. The P&G lifer joined the consumer goods giant in 1989 and has been a member of the global leadership team since 2014, holding various roles across categories, sectors and regions. He has helped build several of P&G’s core businesses, including global fabric care and home care. He has also led the development of the company’s strategies across supply chain , IT, and global business services.

In a short statement, Jejurika thanked Moeller for “his many years of tireless and steady leadership at P&G” across 38 years at the company. ” The announcement came alongside P&G’s quarterly results, which disappointed investors and triggered a 3% fall in its share price . 4bn expected by analysts. While net sales were up 2% compared to last year, organic sales — which strip out currency moves, acquisitions, and divestitures — were unchanged for the quarter, with volume having no effect. Health care posted the steepest fall with volumes down 3%.

Baby, feminine, and family care all saw volumes decline 1%.