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P&G Announces Organizational Changes

The Procter & Gamble Company announced the following organizational changes:

Hartwig Langer, president—global prestige products, will retire (effective Jan. 1, 2010) after more than 28 years of service. He will step down as division president on July 1, 2009, but will continue to serve in a special assignment to ensure a smooth transition, reporting to Ed Shirley, vice chairman—global beauty & grooming, until his retirement.

Patrice Louvet, vice president—future strategy & growth, global prestige products, has been elected president, global prestige products, succeeding Langer. Louvet will report to Shirley and will continue to be located in Geneva.

Under Langer's leadership, according to a company release, P&G fine fragrances has become one of the company's fastest-growing and successful businesses. P&G global prestige products is one of the world's largest prestige fragrance companies globally; brands include Hugo Boss, Lacoste, Dolce & Gabbana and Gucci. In total, P&G has 23 prestige brands.

"Hartwig has been a game-changing leader and strategist," said Shirley. "He has succeeded by turning the industry's conventional business model on its head by challenging the industry paradigm that being in touch with the consumer would not yield fresh insights in an industry dominated by creative individuals. He has left an enduring legacy at P&G and in the beauty industry.

"Patrice Louvet is the right leader to succeed Hartwig. He is well positioned to sustain and strengthen the growth of P&G prestige, where he has been serving as vice president—future strategy & growth for some time. With more than 20 years of experience in the company, and 15 years in beauty, he has successfully led several of P&G's businesses in multiple regions. He is a cosmopolitan leader with experience in Europe, Asia and North America. And he is a beauty expert whose experience in skin, hair and color cosmetics will help us further grow our prestige beauty business on the strong foundations in place today."