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US: Procter & Gamble announces new beverage chief

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Consumer goods giant Procter & Gamble has announced that its president of the global beverage and North America food and beverage division, Stephen P Donovan, Jr, is to retire on 1st February, after more than 34 years with the company.

Michael J. Griffith, 44, currently vice president - North America coffee products, will replace Donovan.

A.G. Lafley, P&G president and chief executive said: "Steve Donovan has made many outstanding contributions to our business over the past  34 years, including record sales and profit growth in fabric and home care and a return to consistent sales and profit growth in our food and beverage business.

"Under his leadership in food and beverage, Pringles expanded globally, becoming one of the company's billion dollar brands and the largest snack brand in the world. Most recently, Steve played a significant role in leading the restructuring programme that already is improving the company's competitiveness and long-term growth potential."

Speaking about Donovan's successor, Lafley said: "Mike Griffith has a depth of experience in our beverage business. Under Mike's leadership, Folgers has become one of the company's largest and most profitable brands. I am confident he is the right leader to keep this business moving forward."


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