Procter & Gamble to overhaul corporate structure
The changes will come into effect on July 1, 2019.
— P&G (@ProcterGamble) November 8, 2018
Nelson Peltz, who joined the Board in March, had previously pushed for a simplified structure, which targets improving accountability, agility and responsiveness to local needs, according to CNBC.
P&G also announced that CFO Jon Moeller will be expanding his role to COO. He will now also oversee the markets that is not covered by the new major six units. Moeller will continue to report to Taylor. The consumer goods business said in a statement that the corporate restructure will continue to focus on streamlining its portfolio of 10 product categories; ongoing efforts to move resources closer to the consumers and customers it serves; supplementing internal talent with skilled, experienced external hiring; improving category dedication and mastery; strengthening of compensation and incentive programs and ongoing improvements in productivity.