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P&G Goes Ahead And Makes It Official: McDonald New CEO

In his first public remarks since officially being named Procter & Gamble's CEO Wednesday, Bob McDonald says he will strive "continuity with change," that P&G will place more focus on emerging markets such as India and Africa, and will become a "better, more integrated brand-building company," David Holthaus reports.

The West Point graduate has worked his entire career at P&G, beginning in 1980 as a brand assistant. He was named vice chairman of global operations in 2004 and chief operating officer in 2007.

"It's the right time for Bob to step up as CEO," says outgoing CEO A.J. Lafley, who will remain as chairman. He will provide advice, represent the company on certain external issues and recruit talent globally "as long as the board and Bob can tolerate me," he says.



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