Procter & Gamble announces changes to its board of directors

Jun 13, 2007. /Lesprom Network/. The Procter & Gamble Company announced on June 12, 2007 changes to its board of directors. P&G's presiding director, Norman R. Augustine (71), will retire following P&G's August board meeting, after 18 years of service. Current P&G board member, W. James McNerney (57), will assume the role of presiding director upon Mr. Augustine's retirement. P&G also announced the appointment to the board of Rajat K. Gupta (58), McKinsey & Company, effective immediately. Mr. Augustine, a director since 1989, has been P&G's presiding director for the last three years. He currently serves as chairman of the compensation & leadership development committee, and is a member of the innovation & technology committee. Mr. Augustine is the retired chairman and chief executive officer of the Lockheed Martin Corporation. Mr. McNerney will assume the role of P&G's presiding director with Mr. Augustine's retirement. He joined P&G's board in 2003 and currently serves as a member of the audit, compensation & leadership development, and finance committees. Mr. McNerney is chairman of the board, president and chief executive officer of The Boeing Company. Mr. Gupta joined McKinsey & Company, a worldwide management consulting firm, in 1973. From 1994 to 2003, he served as worldwide managing director, before being named a senior partner. Mr. Gupta has a broad range of consulting experience in a variety of industries, including consumer goods. He holds a bachelor of technology degree in mechanical engineering from the Indian Institute of Technology and an M.B.A. from Harvard Business School. Three billion times a day, P&G brands touch the lives of people around the world. The company has one of the strongest portfolios of trusted, quality, leadership brands, including Pampers(R), Tide(R), Ariel(R), Always(R), Whisper(R), Pantene(R), Mach3(R), Bounty(R), Dawn(R), Pringles(R), Folgers(R), Charmin(R), Downy(R), Lenor(R), Iams(R), Crest(R), Oral-B(R), Actonel(R), Duracell(R), Olay(R), Head & Shoulders(R), Wella(R), Gillette(R), and Braun(R). The P&G community consists of over 135 000 employees working in over 80 countries worldwide.