Is There a Future CEO in P&G's Reshuffled Ranks?

Two weeks into his new/old job as Procter & Gamble’s chief executive officer, A.G. Lafley appears to be lining up his replacement. In the first big move since P&G’s board summoned its former CEO out of retirement to replace Bob McDonald, Lafley announced a major reorganization to focus on four main business areas: baby, feminine, and family care; beauty; health and grooming; and fabric and home care.

Under McDonald, who succeeded Lafley in 2009, P&G struggled with weak growth and market share losses in many developed markets. The changes, effective July 1, “will help us get closer to consumers and become more agile with customers,” Lafley said yesterday in a statement that identified seven executives. Part of Lafley’s role upon his return was to identify and groom the next CEO. One executive dealt out was the head of pet care, Jorge Mesquita, who is leaving “to pursue outside interests,” P&G said.