Procter & Gamble announced that Alan George "A.G." Lafley has rejoined the company as President and CEO, effective immediately. He has also been elected to the Board of Directors and will serve as its Chairman. Lafley joined Procter & Gamble in 1977 and served as President and CEO from 2000 to 2009. He succeeds Robert A. "Bob" McDonald, who is retiring from the company on June 30 after 33 years of service.