Groomed For Sustainable Growth, P&G Positions Shaving Brands To Provide Marketplace Edge
In first presentation at P&G’s helm, Jon Moeller says firm was groomed under his predecessor to grow revenues and income by developing line extensions for daily-use products offered at premium prices and by simplifying its operations for efficiency from executive suites to local distribution channels.
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P&G raises prices on 9 of its 10 US product categories, rolling out increases in grooming, skin care and oral care products now. High commodity costs prompted it to increase its outlook for headwinds of $2.1bn for its FY2022.
Jon Moeller appointed to succeed David Taylor, at the helm for almost six years and remaining as executive chairman, a day before P&G releases FY21 full-year and Q4 results.
Less than a year after the US FTC put the skids on Edgewell’s intended acquisition of Harry’s, it is intervening to stop P&G from buying women’s razor startup Billie. “If P&G can snuff out Billie’s rapid competitive growth, consumers will likely face higher prices,” FTC leadership says.