May 24, 2013
A.G. Lafley has rejoined Procter & Gamble Co. as chairman, president and chief executive officer, replacing Robert McDonald, his hand-packed successor, who has announced his retirement.
McDonald’s sudden departure comes in the middle of a major restructuring drive launched last February.
Press reports attribute the move to pressure from activist investor William Ackman.
"I am looking forward to working with P&G’s outstanding leadership team to continue to improve the company’s performance," said Lafley. "I am confident that we will deliver strong innovation, productivity and growth to win with consumers, customers and shareholders."
Less than a week after rival Walmart announced weaker-than-expected domestic sales for its first fiscal quarter, Target Corp. issued disappointing first quarter results that it blamed on poor weather.
Walmart reported a 1.1% increase in net income to $3.78 billion, or $1.14 per diluted share, for the first quarter of fiscal 2014, as sales grew 1% to $113.43 billion.
Supervalu Inc. reported wider losses from continuing operations for both the fourth quarter and full 2013 fiscal year as sales in its retail and wholesale segments continued to weaken.
Tesco PLC has confirmed that it will exit the United States and has classified its Fresh & Easy chain as a discontinued operation.
Target Corp. has updated its forecast for first quarter comparable-store sales and earnings as well as full-year reported earnings following the sale of its credit card portfolio and settlement of its debt tender offers.
Stater Bros. Markets has appointed Peter Van Helden as president and chief operating officer, succeeding Jim Lee, who will retire effective June 1. Van Helden will report to chairman and chief executive officer Jack Brown.
Rite Aid Corp. reported its second consecutive quarterly profit and its first annual profit since 2007.
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Dunnan Edell, president and chief executive officer of CCA Industries, has passed away suddenly. His father, David Edell, former CEO and founder of the company, has agreed to resume the CEO’s role. David Edell had retired at the end of 2011.
Alliance Boots GmbH is celebrating its 77th anniversary by relaunching its Boots No7 skin care line, No7 Beautiful Skin.
Hair growth brand Viviscal was mentioned earlier this month on the popular ABC-TV daytime talk show "The View."
McLane Co. has entered an agreement to buy Meadowbrook Meat Co. (MBM), a national foodservice distributor.
The Global Market Development Center (GMDC) will debut a major innovation in connectivity at its 42nd annual General Merchandise Marketing Conference in Orlando, Fla., June 1 to June 5.
Morton Salt Inc.'s chief executive officer Mark Roberts has been appointed as a member of the board of executive directors of K+S Group, effective October 1, 2012.
Dream Products LLC has expanded distribution of its Dream Water relaxation shot to Target, Kroger and Safeway stores.
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