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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.
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