Procter & Gamble replaces Moeller with COO
NEW YORK: Procter & Gamble (P&G) chief executive Jon Moeller is stepping away from the top job after four years in the role, and the consumer goods giant says he will be succeeded by chief operating officer (COO) Shailesh Jejurikar.
Moeller will become executive chairman and 'provide advice and counsel to the new chief executive officer (CEO) on company matters,' P&G said in a statement on Monday, a day before it was scheduled to report its quarterly results.
The company did not disclose the reason for the change in leadership in its statement. However, P&G chief communications officer Damon Jones told Reuters Moeller's departure was part of a planned and orderly transition put in place by the board.
There were no health concerns leading to Moeller's departure, he said.
The Cincinnati, Ohio-based company has a history of relatively short CEO terms, dating back to the mid-1990s.
Moeller's predecessor David Taylor was CEO for six years, two of which were during the Covid pandemic when consumer goods companies faced product shortages and supply chain snags.
Taylor then served as executive chairman of the board.
Under Moeller, the company navigated a post-pandemic sales boom, as well as rising expenses and sticky inflation.
P&G shares gained roughly 13% during his four-year tenure, in line with the S&P 500 index.
The company, which makes Pampers diapers and Head & Shoulders shampoo, in April warned of higher product prices due to an increase in input costs from the trade war at a time of weakening consumer spending. Its stock is down about 6% so far this year.
In June, the company said it would cut 7,000 jobs over the next two years and exit some product categories and brands in certain markets, including some potential divestitures, as part of a broader two-year restructuring plan.
'It might not mean much to the outlook since they're promoting from within,' said Brian Jacobsen, chief economist at Annex Wealth Management, which holds P&G shares.
'This could be more like the passing of the baton in a long race rather than shaking things up.'
Jejurikar's appointment, effective Jan 1, 2026, keeps up with P&G's preference for naming internal candidates for the top job.
Moeller had also risen through the ranks before becoming the COO and then CEO of the company.
The board has nominated Jejurikar as a director at the annual shareholder meeting in October 2025. Jejurikar has held roles across multiple P&G businesses, including Health & Beauty Care and P&G Professional.
Prior to his current role, he was the head of P&G's Fabric & Home Care, which includes brands such as Tide, Ariel and Downy. — Reuters
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