Procter & Gamble global marketing officer Jim Stengel will retire Oct. 31, the company announced today.
He will be succeeded by Marc Pritchard, currently, president-strategy productivity and growth. Pritchard, 48, will become global marketing officer on Aug. 1.
“Jim Stengel has reinvigorated P&G’s marketing function and strengthened P&G’s capability as one of the world’s leading brand builders,” said A.G. Lafley, P&G’s chairman of the board and chief executive officer, in a statement. “Jim has helped change the way P&G markets our brands by challenging traditional marketing models and setting new standards for P&G marketing rooted in deep consumer understanding.”
P&G rep Jeannie Tharrington said Stengel, 53, was ready to move on. “Jim feels like he accomplished what he set out to do which was reinvigorate marketing functions and strengthen P&G’s capability as a leading brand builder,” she said. Tharrington said Stengel plans to “share his personal passion to embrace the power of marketing,” but she declined to be more specific about Stengel’s future plans. “Jim plans to share those plans at a future date.”
Pritchard joined Procter in 1982 in several capacities, including finance, advertising, marketing, and information technology as well as on the Oil of Olay brand. In 1996, Pritchard became general manager and vp of P&G Cosmetics & Fragrance Products and is credited with resurrecting the Cover Girl line with an ad campaign themed, “Easy, breezy, beautiful,” and with products like Cover Girl Outlast and Max Factor Lipfinit. In 2006, Pritchard took his current title.
Stengel joined Procter in 1983 and worked on various brands including Duncan Hines before. He became global marketing officer for P&G in 2001.