Procter & Gamble Announces Executive ChangesCINCINNATI, Dec. 11, 2002 - The Procter & Gamble Company today announced the election of Margaret C. Whitman (46), president and chief executive officer of eBay, to the company's board of directors effective January 1, 2003.
"We are pleased that Meg is joining our board," stated A.G. Lafley, chairman of the board, president and chief executive. "She has built one of the most profitable e-commerce businesses in the world. Her understanding of consumers, branding, and the Internet make her a tremendous addition to P&G's board."
Whitman holds a B.A. degree in Economics from Princeton University and an M.B.A. degree from the Harvard Business School. Her first job was as a P&G marketing brand assistant. Prior to becoming president and chief executive officer of eBay, her career included key positions at Hasbro Inc.; FTD. Inc.; the Stride Rite Corporation; the Walt Disney Company and Bain & Company.
Additionally, Filippo Passerini (45) currently vice president - business process sourcing study transition leader, has been elected global business services officer, effective January 1, 2003. This is in anticipation of Mike Power's (55) retirement on March 31, 2003, after more than 31 years of service.
Lafley said, "Filippo brings a wealth of global business and technology experience to his new role in GBS. His experience and insights will keep GBS a recognized leader in the shared services industry."
Commenting on Power's contributions Lafley said, "Mike has guided the creation and development of P&G's Global Business Services since its inception four years ago. Under his leadership, GBS developed into a world-class global shared services organization, reducing transactional costs by more than 20 percent while advancing the application of technology throughout the business. Mike's contributions as a change agent for how shared services are managed corporately and globally will continue to benefit the company and its employees well into the future."
P&G is celebrating 165 years of providing trusted quality brands that make every day better for the world's consumers. We market nearly 300 brands - including Pampers, Tide, Ariel, Always, Whisper, Pantene, Bounty, Pringles, Folgers, Charmin, Downy, Lenor, Iams, Crest, Actonel, Olay and Clairol Nice 'n Easy - in more than 160 countries around the world. The P&G community consists of nearly 102,000 employees working in almost 80 countries worldwide.
