Procter & Gamble names working chief Shailesh Jejurikar as CEO

 Procter & Gamble CEO Jon Moeller is stepping down in a shock transfer simply after 4 years with the corporate, and the buyer items large mentioned he could be succeeded by working chief Shailesh Jejurikar.

Mr. Moeller, who had been on the helm since 2021, will develop into government chairman and can “present recommendation and counsel to the CEO on firm issues,” P&G mentioned in an announcement on Monday, a day earlier than it was scheduled to report its quarterly outcomes.

It didn’t disclose the rationale for the change in management.

Below Moeller, the corporate navigated a post-pandemic gross sales increase, in addition to rising bills and sticky inflation. P&G shares gained roughly 13% throughout his four-year tenure.

In June, the corporate mentioned it could lower 7,000 jobs over the subsequent two years and exit some product classes and types in sure markets, together with some potential divestitures, as a part of the broader two-year restructuring plan.

The corporate, which makes Pampers diapers and Head & Shoulders shampoo, in April warned of upper product costs as a consequence of a rise in enter prices from the commerce warfare at a time of weakening shopper spending. Its inventory is down about 6% to date this 12 months.

Mr. Jejurikar’s appointment, efficient January 1, 2026, retains up with P&G’s desire of naming inner candidates for the highest job. Moeller had additionally risen by the ranks earlier than changing into the COO after which CEO of the corporate.

The board has nominated Jejurikar as a director on the annual shareholder assembly in October 2025.

Mr. Jejurikar has held roles throughout a number of P&G companies, together with Well being & Magnificence Care and P&G Skilled. Previous to his present position, he was the pinnacle of P&G’s Cloth & Dwelling Care, which incorporates manufacturers equivalent to Tide, Ariel and Downy.