U.S. Markets open in 6 hrs 26 mins

P&G to 'significantly' revamp management structure

Barrett J. Brunsman
American City Business Journals
P&G to 'significantly' revamp management structure

Procter & Gamble CEO David Taylor disclosed this afternoon that the company plans to revamp its management structure. The Cincinnati-based maker of consumer goods such as Tide detergent (NYSE: PG) will implement new reporting lines to boost leadership accountability and enable P&G to accelerate growth and value creation, Taylor said. Beginning July 1, P&G will operate though six industry-based sector business units for the largest geographic markets, each led by a chief executive who will report to Taylor.  “This is the most significant organization change we’ve made in the last 20 years,” Taylor said during the company’s annual Investor Day conference for market analysts.