P&G Announces Return To Tried-And-True Beauty Biz Structure
This article was originally published in The Rose Sheet
Procter & Gamble Co. announced that its beauty business will revert to a classic brand management structure and leave behind its current system of disaggregated functions. During the CAGNY conference Feb. 20, CEO Lafley said the return to form, in addition to the launch of “consumer-preferred” products, will help P&G win back share lost in recent years.
You may also be interested in...
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 is “making progress” in improving its U.S. skin care and Pantene businesses, with both up single digits in the third quarter. U.S. beauty helped buoy net beauty sales for the period, which were flat at $4.69 billion, the firm reported April 23.
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.