The Soapy Path to Power at P&G

Procter & Gamble (PG) Chairman and CEO A.G. Lafley shares one squeaky-clean tie to the two chief executives who came before him and the two executives who are candidates to replace him: soap. All spent several years working in P&G's laundry business. Although it makes up less than a third of the company's $84 billion in sales, laundry has been viewed as a mandatory training ground for future leaders.

What's so special about Big Soap, as it's called within P&G? For one thing, it's fiercely competitive. With 47 detergent brands in a slow-growth industry, market leadership often comes at the expense of another P&G brand. (Pringles, in contrast, is the company's only potato chip line.) Those who succeed tend to have a laser-like focus on shifting customer preferences combined with relentless innovation. "It's no cakewalk in there," says consultant Noel M. Tichy.