Consumer and Shareowner Value Creation is Top Priority, P&G CEO Tells Shareowners

Procter & Gamble has established consumer and shareowner value creation as its top priority, chairman, president and CEO A.G. Lafley told the company's shareowners at its annual general meeting earlier this week. 

In a review of the business over the past year, Mr. Lafley said P&G had met or exceeded its key financial commitments, including organic sales growth, core earnings per share and free cash flow productivity. The company returned $12.5 billion in cash to share owners. However, he emphasized the company can do better. 

Lafley stressed that the company will focus on its core businesses, which include the leading most profitable brands, categories and countries. P&G must ensure its U.S. business is strong and growing while investing in developing markets that have the largest size of prize and where P&G has the highest likelihood of winning. Resources will be allocated to businesses where value can be created and the company will exit those that cannot deliver acceptable shareowner returns. 

"We have taken a hard look at what we need to do and how we need to change to perform better," said Lafley. "We're committed to do what it takes to get P&G back to balanced, consistent, reliable and sustainable growth and value creation for consumers, customers, and you, our shareholders."

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