Procter & Gamble is executing on its growth and productivity plan to enhance performance and drive shareholder value, P&G chairman, president and CEO Bob McDonald, told the company’s shareholders at its annual meeting. During the meeting, McDonald highlighted P&G’s consistent growth and superior long-term shareholder returns over the years. He cited the strength of P&G’s proven business model of discovering meaningful consumer insights, translating those insights into products with superior benefits and value and supporting those products with strong marketing programs and broad distribution. He also underlined the sharp focus against the company’s 40 largest businesses, 20 top innovations and 10 most important developing markets as well as its $10-billion productivity program as key drivers to future growth.
He commented, “Our plan, as you can see, is decisive, simple and focused. Grow our core and win with innovation fueled by productivity. It’s a plan that has the support of our board of directors, the commitment of our leadership team and the full engagement of Procter & Gamble people all over the world.”
On innovation, McDonald commented, “We are renewing our commitment to discontinuous innovation—that is, to innovation that obsoletes current products and creates new categories and new brands.”
He continued, “In the meantime, many superior product innovations are in the market now, including Tide Pods, Downy UnStopables, ZzzQuil, Pampers Baby Dry, Charmin DuraClean, Bounty Trap & Lock, Crest Pro-Health for Life, Olay Regenerist, and a full portfolio of superior new products [for] Pantene and Head & Shoulders.”
McDonald concluded, “Our objectives are unchanging: To win with consumers; and, to deliver total shareholder return that ranks P&G among the top third of our peer group—the best performing companies in our industry. We’re confident we’re doing what’s right and necessary to achieve these objectives, now and for the long term health of our business.”