Could management changes at P&G herald a new pace of change for the FMCG giant?

As Procter & Gamble announces a new CEO, we ask whether a management change at the top could bring in a new pace of change for the world's largest household goods business.

P&G: Appointed new CEO David Taylor
P&G: Appointed new CEO David Taylor

P&G has chosen veteran insider David Taylor to head up the organisation, replacing A.G. Lafley, who will step down from the role in November to become executive chairman.

According to Lafley, Taylor is well placed to "sharpen the strategies" as the business embarks on the "most comprehensive transformation in [its] history". We explore who he is and what his  priorities are likely to be.

Who is David S. Taylor?

David Taylor, based in Cincinnati US, has had a long career at P&G since joining in 1980. Whilst climbing the ladder he had a brief stint as a marketer for nappies in 1996 - 1998 before taking his first vice president role in 2001 as VP of hair care in Greater China and then VP for family care in Western Europe. 

In 2005 he became president of global family care, then global home care before becoming group president of global health and grooming in 2013. His current role, before he becomes CEO in November, is global president for beauty, grooming and healthcare.

What has he driven through at P&G?

Outgoing CEO A.G. Lafley - who has served two stints as CEO from 2000-2009 and from 2013 and will stay on as Chairman, told the US press that Taylor had been a fundamental part of P&Gs turnaround strategy "every step of the way", suggesting that when he takes over the reins in November he will not let off the gas when it comes to driving P&Gs transformation.

The business describes him as a results driven "proven leader" and it was on his watch that P&G sold off 43 beauty brands to Coty. 

What will his priorities be and what does this mean for P&Gs brands?

P&G has undergone much change since announced last year it would shed underperforming brands in a bid to streamline the business last year.

P&G is expected to have completed the axing of around 100 brands by 2016. According to P&G, around 70/80 brands account for 90% of its sales and it plans to refocus spend on 65 core brands in 10 categories.

The business has already taken strides to offload brands - including Duracell in October and the sale of 43 beauty brands to US firm Coty in a deal valued at around £8.13bn last month and overseen by Taylor. The brands sold included Maxfactor and Clairol. 

Taylor is likely to drive through even more change to boost sales and profits as it enacts this transformation strategy. He will be "joined at the hip" with Lafely during the handover period, the Financial Times reported. 

A more streamlined business suggests more scope to refocus marketing and investment on existing brands.

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