Biotech Values

[DewDiligence]

PG still has a drug business, so I deem this post on-topic :- )

http://online.wsj.com/article/SB124449397535495339.html

›Procter & Gamble to Name New CEO

JUNE 8, 2009, 5:10 P.M. ET
By ELLEN BYRON

Procter & Gamble Co. is preparing a major management transition that would replace Chief Executive A.G. Lafley with Robert McDonald, a 29-year veteran at the consumer-products giant, according to people familiar with the matter.

Mr. Lafley will remain chairman and maintain a hands-on role in managing P&G, a person close to the company said. An announcement of the transition could come as early as Tuesday, after P&G's board votes on the matter in a regularly scheduled meeting, this person said.

A P&G spokeswoman declined to comment.

The transition, expected on July 1, comes at a troubled time for the 172-year-old company that made brands like Crest, Charmin and Tide household names and helped invent modern consumer-product marketing. [PG’s stock is cheap enough to be a good value, IMO.]‹