Taylor joined P&G in 1980.
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He will succeed A.G.
Mr Lafley, who returned to take over as CEO of the consumer goods giant in 2013 after having led the company from 2000-2009, is expected to remain as chairman, the Journal reported. Lafley as the company’s President and Chief Executive Officer, effective November 1, 2015.
In 1980, Mr. Taylor started his career in P&G as a production manager in a factory at Greenville, N. C., that manufactured adult diapers and sanitary napkins. Lately, the company has been feeling the effect of a strong dollar on sales overseas. The Cincinnati, Ohio-based maker of Tide detergents, Crest toothpaste and Gillette shaving razors will report its full-year results on Thursday.
When predecessor AG Lafley came back to Procter & Gamble in mid-2013 to take over as CEO, we had expected that he would stay for two years and this would be consistent with that. At that time, the company said it was looking to have agreements in place for the divestitures by July 2015.
P&G in the recent past announced that it will sell Coty, one of its beauty care brands for about $12.5 billion. The transaction will be conducted as a tax-saving Reverse Morris Trust, meaning P&G will spin or split off the business, which will then merge with a Coty subsidiary. P&G’s beauty business includes salon professional, retail hair color, cosmetics and fine fragrance as well as select hair styling brands businesses that encompasses 43 beauty brands.
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Shares of P&G were trading down 0.29 percent in extended-hours after the announcement.
