Procter & Gamble has named Jon R Moeller as Chairman of the Board. Moeller assumes the position in addition to his role as President and CEO of the company. In August 2021, P&G gave birth to the youngest Chinese CEO in its history.
Jon R. Moeller has been appointed as chairman of Procter & Gamble Company’s Board of Directors, effective July 1, 2022.
Moeller assumes the position in addition to his role as president and chief executive officer following the retirement of current executive chairman David Taylor.
“I want to recognize and thank David for his leadership of P&G over the last seven years as well as for his 40-plus years of service to the company,” said Moeller. “We have much to thank him for. Among other things, David committed to P&G to achieve balanced top and bottom-line growth, completed the restructuring of our portfolio, and led our most important organization change in decades. We are well-positioned to continue to serve consumers around the world with noticeably superior offerings that improve their lives.”
Moeller joined P&G in 1988. He has been a member of P&G’s global leadership team since 2009, serving as a chief financial officer, chief operating officer, and vice chairman. Throughout his career, he has held various senior leadership roles in categories, sectors and regions, and helped build several of P&G’s core businesses. Moeller played a pivotal role in designing and implementing P&G’s portfolio, superiority, productivity and organization design strategy, as part of one of the most significant transformations in the company’s history.
He also led the company’s Investor Relations, Information Technology, Global Business Services, Sales, Market Operations, Purchasing, Manufacturing, and Distribution efforts. Before COO, he held the role of P&G’s chief financial officer for more than 12 years.
Earlier, Durk I. Jager, former Chairman of the Board, President and CEO of P&G. Durk joined the company in 1970 as a brand assistant for P&G in the Netherlands, and 12 years later was transferred to Japan as an advertising manager and later promoted to general manager. P&G’s business in Japan grew from seven brands to 25 national or test market products in just six years.
In 1995, he was appointed Chief Operating Officer of P&G and in 1999, he was named Chief Executive Officer of P&G.
During the tumultuous transition from the 20th to the 21st century, sales revenue declined for most of P&G’s 18 top brands, while competitors with more concentrated businesses like Kimberly-Clark and Colgate Palmolive continued to occupy P&G’s market share. At the same time, large retailers had stronger negotiating power and continued to drive down product prices.
Durk was appointed to take the helm for only for one year and five months, making him the shortest-tenured CEO in P&G’s history.
After taking over, Durk had targeted annual sales growth of 7% to 9%, which led to three profit warnings in three months – and lost focus on the company’s key products.
Durk came under pressure from multiple sources and 17 months later, Durk announced his departure and was succeeded by Ray Foley.
The former CEO of P&G, Durk, died on Sunday, April 3 in 2022 at the age of 78.
A eulogy on P&G’s website reads, “Durk has said ‘thinking globally will make us better professionally,’ remembering the entrepreneurial spirit and courageous leadership ethos of our former CEO in an era of constant change.”
P&G China’s CEO has also changed.
In August 2021, P&G gave birth to the youngest Chinese CEO in its history. Xu Min, former P&G Greater China Vice Chairman, President of Sales and Brand and Brand Operationsofficially assumed the role of Chairman and Chief Executive Officer (CEO) of P&G Greater China on October 1, 2021.
A native of China and the first locally trained CEO in P&G’s history, Xu joined P&G in 1997 as a management trainee. Since 2015, Xu Min has been in full charge of the e-commerce business and also responsible for P&G Greater China media and brand operations. Since 2017, he has been the President of Brand Management of P&G Greater China. In April 2021, Xu Min was promoted to Vice Chairman of P&G China, taking over from Ke Xinghua, who retired to the U.S. Less than six months later, he was given another important role as Chairman and CEO of P&G Greater China.
In six years, under Xu Min’s leadership, P&G China’s e-commerce business has achieved significant growth. By 2018, the e-commerce business has accounted for more than 30% of the overall Chinese market, becoming the number one ranked sales channel. This means that local Chinese talent has a strong competitive edge when it comes to top cosmetic business management.
In recent years, China, which has become the second largest cosmetics market in the world, has maintained high growth despite the severe global epidemic situation. The Chinese market has become a major driver of performance growth for global cosmetics giants. In this context, the giants are paying more attention and investing in the Chinese market than ever before, and replacing or choosing a local helmsman with a better understanding of the Chinese market has become a very worthwhile option to try.