Coty faced off against 44 other interested parties last year to eventually win P&G's beauty business with its $12.5bn merger bid, ushering it to the top tier of the global beauty industry. An April 22 SEC filing offers inside details on Coty and P&G's businesses and how the deal came together.

Procter & Gamble reorganizes into four industry-based units, with the goal of getting closer to consumers and becoming more agile, CEO Lafley says. Each unit leader and two other executives now have direct lines of communication to Lafley and could be positioned to take over the helm.

Procter & Gamble turns to its former leader, who was replaced by Bob McDonald in 2009, after facing investor and analyst pressure to shake up management. Lafley’s return as CEO “provides us with new hope,” one market analyst says.