Procter & Gamble Readies For Expansion During Second Post-Lafley Period

With A.G. Lafley set to leave Procter & Gamble Co. for the second and final time, the consumer goods giant is set to expand and grow its business operations. On July 1, 2016, president and CEO David Taylor will assume the role as chairman of the company. During his first stint as leader of P&G in 2000 to 2009, Lafley more than doubled sales and expanded its lineup of billion-dollar brands from 10 to 23. Lafley was recalled to refresh his role as leader after the company's sales started declining by 2013, due to the Great Depression. Lafley's second stint, however, was not as smooth sailing as his first at the start. Despite the early headwinds, Lafley led a five-year $10-billion restructuring plan aimed at focusing on the company's core brands and cutting costs significantly. Among the brands disposed of by the company were Mars pet foods and Duracell batteries. In 2015, P&G sold 43 beauty brands to Coty for $12.5 billion.