A New Leader for P&G: What's Next?

Shailesh Jejurikar, a 58-year-old executive, is set to take the helm at Procter & Gamble (P&G) on January 1st. He will succeed Jon Moeller, who has been at the company's head since 2021 and will now take on the role of executive chairman. Jejurikar, who has been with P&G since 1989, has a strong track record, having led some of the company's biggest brands like Tide, Ariel, and Febreze. The leadership change comes at a time when P&G is facing some challenges. The company recently announced plans to cut 7, 000 office jobs as part of a restructuring effort. This follows a forecast of a mere 2% organic sales growth for the fiscal year ended June 30, the lowest since 2018. Despite these hurdles, P&G remains a global giant, employing 108, 000 people worldwide, including 10, 000 in Greater Cincinnati. Jejurikar's appointment is notable for another reason: he will be the first Asian to lead P&G. Born in Mumbai, India, he holds an economics degree from Mumbai University and an MBA from the Indian Institute of Management-Lucknow. His appointment is a significant milestone, reflecting the company's global diversity. In terms of compensation, Jejurikar is set to earn an annual salary of $1. 6 million, with additional annual incentives worth up to $3. 2 million. The company's board has also approved a long-term incentive award valued at $14 million for him. These figures highlight the high stakes and expectations that come with leading a company of P&G's size and influence. As Jejurikar steps into his new role, he will face the task of steering P&G through its current challenges and ensuring its continued success in a competitive market. His experience and background make him a strong candidate for the job, but the road ahead is sure to be filled with both opportunities and obstacles.