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Procter & Gamble Faces Wrath Of Dissatisfied Shareholders

October 13, 2015: 12:00 AM EST
Procter & Gamble faced some serious questions and issues raised by shareholders angered by the company’s lackluster revenue performance during its annual meeting in Cincinnati. Shareholders, such as Karen Mayer, complained about the 20 percent plunge in 2015 of the company’s stock following a high of almost $94 in 2014. Outgoing CEO A.G. Lafley defended the company’s performance, saying P&G is in the midst of its turnaround plan. Profits fell 40 percent to $7 billion for the fiscal year ending June 30, 2015, with sales dropping 5 percent to $76.3 billion. P&G’s bottom line was hurt by adverse foreign exchange impact, following devaluation of currencies by countries, including Russia and Venezuela.
Alexander Coolidge, "Shareholders chide P&G on results", Cincinnati.com, October 13, 2015, © Cincinnati.com
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