Jon Moeller will take over from David Taylor, who has served as CEO of Procter & Gamble (P&G) since 2015, on November 1. Currently, the vice-chairman and COO, Moeller will helm a company which has performed strongly during the Covid-19 pandemic and is poised for further growth.
P&G‘s Q4 global sales reached US$18.9 billion, fuelled by “disproportionate growth” in health care, skincare and personal care. Driven by “magic” brands such as Olay and SK-II, beauty sales rose over 11 per cent for the quarter. While grooming, powered by Gillette, saw revenues climb 10 per cent.
Both categories performed well over the full fiscal year with beauty and grooming sales surging 8 and 6 per cent, respectively. A standout performance which helped to drive P&G’s FY2021 revenues to US$76.1 billion.
Haircare – led by Pantene, Head & Shoulders and Herbal Essences – enjoyed low single digit growth. While e-commerce revenues soared 35 per cent for the full year.
P&G’s two largest markets, China and the US, posted 12 per cent and 8 per cent growth for fiscal 2021.
Global oral care sales boomed during the pandemic and P&G benefited with successful new launches such as the Oral-B iO Power Brush, a high-tech personalised brush, and Crest Whitening Emulsions with LED Accelerator Light.
Outgoing CEO David Taylor announced that P&G is looking at sales growth of 2 to 4 per cent in fiscal 2022, following its latest results.
“We delivered another year of strong results with balanced top and bottom-line growth and strong cash generation, exceeding each of our in-going targets. We built strong momentum prior to the pandemic and have strengthened our position further,” he added.