P&G Announces Intention to Exit the Battery Business
24 October 2014
In our quarterly earnings release issued earlier this morning, we announced our intention to exit of the Duracell Personal Power—or Battery—business, in order to maximize value to P&G’s shareholders. Although no decision has been made on the form of the exit, our current preference is a split-off of the Duracell business into a stand-alone company. This transaction will likely occur in the second half of calendar year 2015. Stassi Anastassov will take the role of the Chief Executive Officer for the new entity.
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