Latest news with #Moeller
The Star
4 hours ago
- Business
- The Star
Procter & Gamble replaces Moeller with COO
Moeller will become executive chairman and 'provide advice and counsel to the new chief executive officer on company matters,' P&G said. — Reuters 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
Yahoo
8 hours ago
- Business
- Yahoo
Procter & Gamble beats on earnings, warns of $1 billion tariff hit
Procter & Gamble (PG) is taking a cautious approach to the next 12 months as it navigates uncertain consumers and Trump tariffs. The consumer products giant said Tuesday it will see a $1 billion hit to profits in its new fiscal year as a result of tariffs. It offered mixed earnings-per-share guidance as a result, with the bottom end of the range below analyst forecasts. Shares rose slightly in premarket trading as its fiscal fourth quarter results beat estimates. Read more: Live coverage of corporate earnings P&G's earnings come amid a change atop the C-suite ahead of the results. It announced late Monday that Shailesh Jejurikar will succeed CEO Jon Moeller on Jan. 1, 2026. Jejurikar is currently the company's COO but has been with P&G since 1989. He has helped lead some of P&G's most important businesses around the world, notably a fabric care business led by the Tide brand. Moeller has been the CEO of P&G since November 2021. He has been with the company since 1988, holding positions such as COO and CFO before landing the top job from David Taylor. Moeller will assume the position of executive chairman of P&G. "We are not surprised as we believe Mr. Jejurikar's was the natural successor to CEO Moeller after his appointment to the COO position in October of 2021. We also think Jejurikar's experience in both developed markets and emerging market and as the CEO of global fabric care and home care gives him enough experience to lead P&G," JPMorgan analyst Andrea Teixeira said. Earnings insight: Weakness in fabric and baby products Net sales: $20.9 billion, +2% from the prior year vs. $20.82 billion estimate Organic sales growth: +2% vs. +1.75% estimate Beauty segment organic revenue growth: +1% vs. +1.6% estimate Grooming segment organic revenue growth: +1% vs. +2.46% estimate Healthcare segment organic revenue growth: +2% vs. +3.57% estimate Fabric and home care segment organic revenue growth: +1 vs. +1.76% estimate Baby, feminine, and family care segment organic revenue growth: +1% vs. +1.37% estimate Adjusted EPS: $1.48, +6% from the prior year vs. $1.42 estimate What else caught our attention: Warnings Full-year organic sales growth: 0% to +4% (estimate: +2.54%) Full-year earnings per share: $6.83 to $7.09 (estimate: $6.99)Brian Sozzi is Yahoo Finance's Executive Editor and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News18
a day ago
- Business
- News18
P&G CEO Jon Moeller Steps Down, Shailesh Jejurikar To Succeed
Moeller will become executive chairman and 'provide advice and counsel to the 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, but P&G chief communications officer Damon Jones told Reuters Moeller's departure was part of a planned and orderly transition made 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 January 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.
CNBC
a day ago
- Business
- CNBC
Procter & Gamble replaces CEO Moeller with COO and long-time executive Jejurikar
Procter & Gamble CEO Jon Moeller is stepping away from the top job after four years in the role, and the consumer goods giant said he would be succeeded by Chief Operating Officer Shailesh Jejurikar. Moeller will become executive chairman and "provide advice and counsel to the 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, but P&G chief communications officer Damon Jones told Reuters Moeller's departure was part of a planned and orderly transition made 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 January 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.
Business Insider
22-07-2025
- Business
- Business Insider
BlackSky Technology (BKSY) Receives a Buy from Canaccord Genuity
In a report released today, Austin Moeller from Canaccord Genuity maintained a Buy rating on BlackSky Technology, with a price target of $27.00. The company's shares closed today at $22.33. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Moeller covers the Industrials sector, focusing on stocks such as Archer Aviation, Joby Aviation, and Vertical Aerospace. According to TipRanks, Moeller has an average return of 19.0% and a 48.61% success rate on recommended stocks. In addition to Canaccord Genuity, BlackSky Technology also received a Buy from H.C. Wainwright's Scott Buck in a report issued today. However, on July 19, TR | OpenAI – 4o reiterated a Hold rating on BlackSky Technology (NYSE: BKSY).
