This article was originally published in The Rose Sheet
P&G puts health care and grooming head David Taylor in charge of the firm’s global beauty business as well, positioning him as a possible successor to CEO Lafley. More news in brief.
You may also be interested in...
Following an FDA warning letter in 2016 for an unapproved sunscreen drug product, Diamond Wipes now must answer agency concerns regarding “poor-quality water” used in its manufacturing operations. Both warnings stemmed from inspections in the wake of a 2014 product recall for mold contamination.
Gilchrist & Soames’ recall of bath and body products due to microbial contamination marks a five-month trend in FDA’s enforcement reports. On its Microbiological Safety webpage, updated Feb. 12, FDA refers to a public meeting it held on the issue in 2011, where industry representatives warned that a shrinking preservative palette could put consumers at risk.
P&G’s net income fell 31% in its second quarter and will decline for its full fiscal 2015 due to foreign exchange; the firm remains focused on core brand growth and innovation while it weathers the storm. So far, P&G has sold or consolidated 35 of the 90 to 100 brands on its streamlining chopping block, it says.