Ed Artzt's Elbow Grease Has P&G Shining

When Edwin L. Artzt became chairman of Procter & Gamble Co. five years ago, his main objective was to turn the consumer-products giant into a global company. Yet shortly after he took the reins at P&G, it became clear that Artzt would have to do a lot more than that. Caught in the sway of the growing consumer demand for value, P&G--known more for its premium brands at premium prices--suddenly found itself out of step. Artzt's answer was simple: Change the way P&G does business. Says Artzt: "We have to become single-minded in our quest to deliver better value."

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