CEO, chairman and president of Procter & Gamble in the US, Bob McDonald has shifted the responsibilities of Ed Shirley, vice chairman of Beauty and Grooming to Dimitri Panayotopoulos, the vice chairman of Global Household Care.
The announcement comes just one week after P&G reported that its beauty unit’s net earnings from continuing operations declined 3 per cent to $547 million.
The management changes could spark an internal battle within the group over who will take over the Beauty and Grooming division once Shirley retires at the end of the year. His exit, announced Wednesday morning, is the latest in a string of key beauty executives departing P&G this year.
This latest reshuffle within P&G’s beauty operations comes as the company moves to turn around its struggling Pantene Pro-V brand. WWD reports Pantene struggled during the quarter, despite the brand’s relaunch in April 2010 – the second in four years.