CINCINNATI (USA), September 11, 2021 – Cincinnati-based Procter & Gamble has reshuffled its top executive ranks weeks after naming its next chief executive officer in July.
The latest shifts put three or four women within range of someday succeeding Jon Moeller, who was tapped as the next CEO, starting Nov. 1. P&G, which markets most of its products to female customers, has never had a woman as CEO.
Mary Lynn Ferguson-McHugh, the head of the company’s Family Care business, and Steven Bishop, its head of health care, are retiring in October and February, respectively.
Taking their places are Fatima Francisco, the CEO of P&G’s baby and feminine care, and Carolyn Tastad, the former head of North American operations.
Francisco is assuming oversight of the P&G unit that produces Charmin toilet paper and Bounty paper towels, while retaining her role over the company’s other paper businesses, including Pampers diapers and Always feminine products. Her expanded duties put her in charge of the company’s second-largest unit, generating 25% of total sales.
As CEO of health care, Tastad assumes control of the business unit that produces Crest toothpaste and Vicks cough syrup, which generates 12% of total sales.
Monica Turner, the former president of sales for North America, has been promoted to the head of North American operations, replacing Tastad. North America generates 47% of P&G’s sales.
While Moeller was P&G’s chief financial officer for 12 years, the company has traditionally selected CEOs from among executives that have run its top business units. Past CEOs have also done stints running a major geographical market like Asia or Europe for the company before getting the top job.