David Taylor – New managing director of Procter & Gamble

David Teylor-business-people re-el magazine

A “loyal soldier” at the helm of P & G

2 August 2015

Tags:business, business news  financial news, business finance, small business websites




Multinational giants continue the “guard change” and one of them is Procter & Gamble: The largest group of consumer goods in the world with headquarters in Cincinnati of Ohio, which manages tens known brands from Pampers diapers and Gillette razors by Oral-B toothpaste and cosmetics Olay announced that on November 1, a veteran of the company who has spent 35 of the 57 years of his life in this company with be the new CEO, occupying one of the top positions in the business “map” US and internationally. This person is David Taylor, now the head of the unit cosmetics and health products of P & G, which represents over 50% of total group sales (which amounted to 76.3 billion dollars over the previous financial year). The Procter & Gamble remains faithful to the tradition of select executives from within for top positions, since Taylor is a selection of the outgoing charismatic CEO Hey Ji Laflei, who “ran” the company in the period 2000-2009 and enrolled in gold of ledgers, since succeeded in doubling sales and tripling its market value.

The 67-year-old Laflei had retired in 2009, but returned as a “savior” in 2013, after the previous executive had chosen to succeed him, Bob McDonald turned lower expectations of shareholders and the Board of Directors of P & G and extruded to resign after four years is considered short period for the data group.
Laflei, considered “gurus” of P & G shows determined not to make that mistake again. As underlined speaking to Financial Times, will be like … Siamese with Taylor until November. Then, he will assume executive chairman and will advise the new CEO for strategy, mergers and acquisitions and innovation.



Challenges
The challenge for Taylor is great, because there is simply asked to step out of the shadow of his predecessor, but also to restore profitability and group sales trajectory of rapid growth, as the difficult macroeconomic environment in many of the countries where P & G, the strength of the dollar and growing competition have left their marks on the fundamentals: Shares of P & G recorded losses of 15% from the beginning of time, while the results of the second quarter announced on Thursday troubled the analysts, since the net income fell to 521 million dollars from 2.58 billion dollars the same period of 2014, while sales decreased by 9%.
According to Laflei, this failure is due to the results of the broad restructuring program initiated during the second term have not yet been felt: P & G has reduced by 25% in the workforce compared to the 129,000 people employed by the 2015 and recently fulfilled its pledge to get rid of about 100 brands that are not considered efficient to focus on “only” 65 signs of 10 different categories -reasonable- amid concerns that the group had become so big and unwieldy that it was hard to be  managed effectively, with some analysts to speculate decay in the future.
Taylor played a leading role in the implementation of this program, culminating in the agreement 13 billion dollars that ended last month, selling at Coty 43 brands of the beauty sector and amenities, which include the famous Max Factor cosmetics and toiletries Hair Wella. In some, this deal was the “passport” for the rise of 57-year-old electrical engineering in the top post of Procter & Gamble.
Reboot
Known associates and Taylor talk about a low-key man, full, high intelligence and dedicated te body and soul in Procter & Gamble. Although he began his career in the company of the industry, as head of a factory in his native South Carolina, after 11 years, and while he had reached high position, he decided to jump in the field of marketing and brand management, essentially restarting the career from the beginning, having started from a junior assistant position, working with young university graduates.
“It was a very good decision,” he said in a recent speech at the University of Duke, which graduated. “Apart from that it was a good way to learn all aspects of the work, it was a surprising lesson of humility …”.
Who is who
Experience and humility …
Humility seems to be among the key traits of Taylor, as it is said, “no trace of personal ambition, but has huge ambitions for P & G». Also featured a good listener (one of his favorite sayings is “really hear or just wait your turn to talk?”) And manager that gives subordinates the freedom to take risks. In favor of also included the long and diverse experience, since he has “passed” from production and marketing, has successfully manage different units of diapers and toiletries to the pirated copies of products and has worked not only in the US but also in Asia and Europe. Analysts are hoping that his experience will help to write a new chapter in the history of 2 years of Procter & Gamble, free from the influence of Laflei.
Dangerous mission
David Taylor is not required simply to come out of (heavy) shadow of his predecessor, but also to restore profitability and group sales trajectory of rapid growth, as the difficult macroeconomic environment in many of the countries in which the P & G, the strength of the dollar and growing competition have left their marks on fundamentals.
Select from the inside
Procter & Gamble remains faithful to the tradition of select executives from within for top positions, since Taylor is a choice of the outgoing charismatic CEO Hey Ji Laflei, who “ran” the company in the period 2000-2009 and enrolled in gold of ledgers, since succeeded in doubling sales and tripling its market value.

Tags:business, business news  financial news, business finance, small business websites

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