Bob McDonald is retiring from Procter & Gamble effective June 30, 2013. Bob became CEO in July 2009. At that time he reaffirmed the Company’s commitment to its Purpose – to touch and improve the lives of the world’s consumers through branded products of superior quality and value. The Company’s growth strategy is focused on winning with consumers through innovative, superior performing products that improve the lives of consumers around the world every day.
P&G is executing this strategy by focusing on its 40 largest and most profitable businesses, its 20 largest and most promising innovations, and its 10 most important developing markets, where the growth potential is highest.
This strategy focuses on winning where it matters most with a time-tested business model that leverages the Company’s core strengths: consumer understanding, brand building, go-to-market execution, global scale and, most importantly, innovation.
Under Bob’s leadership, P&G has grown sales by an average of about four percent per year over the past three years; earnings per share an average of about four percent; and adjusted free cash flow of about 90 percent. The Company has delivered these results despite significant economic headwinds, including slow-to-no-growth in developed markets, and rising commodity costs.
In the last fiscal year, P&G returned $10 billion of cash to shareholders through $6 billion of dividends and $4 billion of share repurchase. P&G paid a dividend for the 122nd consecutive year – one of only nine companies to have done this. The Company increased the dividend by 7%. This was the 56th consecutive year the dividend increased – one of only six companies to have done this.
Bob is a champion of global trade and economic growth, and serves on the boards of organizations whose interests are consistent with P&G’s business strategy. He is Chair of The US-China Business Council. He is Vice Chair of the Business Roundtable and Chair of the Business Roundtable Fiscal Policy Initiative. He is Vice-Co-Chair of the Consumer Goods Forum. He serves on the Foreign Investment Advisory Council in Russia and the Singapore International Advisory Council of the Economic Development Board. In addition, he serves on the Board of Directors of the Xerox Corporation.
Bob was born in Gary, Indiana, and was raised in the Chicago area. In 1975, he graduated from West Point in the top 2% of his class with a Bachelor of Science degree in Engineering. After graduation, he served in the U.S. Army as Captain, Infantry, Airborne Ranger, 82nd Airborne Division. While serving in the Army, Bob received an MBA from the University of Utah in 1978. He graduated with honors from Beta Gamma Sigma. Bob joined Procter & Gamble in 1980.
Bob resides in Cincinnati, Ohio, with Diane, his wife of 35 years. They are the parents of two grown children, Jennifer and Robert.