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Why haven’t we seen a woman become CEO at Cincinnati-based Procter & Gamble?
That was the question posed to the current, male CEO of the consumer products giant, Jon Moeller, who admitted “a disproportionate number of our consumers are women.”
Speaking to analysts at an investor conference Thursday in Florida, he answered: “I expect that someday you will – I’d be very surprised if you wouldn’t.” Moeller added it was ultimately a decision for the company’s board of directors, which he chairs. He also acknowledged the question was valid given the company heavily markets its products – such as Tide laundry detergent, Pampers diapers and Pantene shampoo – to women. Even P&G’s male-skewing Gillette razor brand has a female-marketed Venus sibling.
Moeller indicated a female CEO might be inevitable at P&G, given a milestone the company reached last year: For the first time, more than 50% of its global management roles are filled with women. He said having more women in management was necessary to market to female consumers.
“We’re better positioned to serve them (consumers) and win when we have the representation that we want,” Moeller said, adding that understanding women and diverse customers around the world was key to the company’s future. “We’re increasingly serving a more and more diverse group of consumers … we need to position ourselves … to win.”
While several female executives in recent decades have come close to the top job at P&G, none has gotten it so far.
Among the 35 top executives listed on P&G’s website, 11 are women. Three of its most senior executives are women: Jennifer Davis is CEO of the health care unit; Fatima Francisco, CEO of the baby, feminine and family care unit; and Alexandra Keith, CEO of the beauty business.
P&G officials acknowledged the company has a confidential succession plan in the event Moeller leaves the company but declined to provide any details.
P&G’s directors may have hinted who they have in mind for Moeller’s successor when they first tapped him for the top job in 2021. The same day P&G named the next CEO, the company took the unusual step of also naming a No. 2 executive, Shailesh Jejurikar, who became chief operating officer.
Before he was CEO, Moeller was chief operating officer for a little over two years. Prior to that, Robert McDonald was COO before he served as CEO from 2009 to 2013.
This article originally appeared on Cincinnati Enquirer: P&G's Jon Moeller discusses a potential female CEO in future