Procter & Gamble
We’re driving a cost-reduction and cash-improvement mindset deeper into the Company with clearer reporting structures, clearer accountability and the disciplined use of Total Shareholder return at the business unit level.
—A.G. Lafley, Chairman of the Board, President, and Chief Executive, in the 2004 P&G Annual Report
Entering 2005, two of America’s giant consumer products companies — Procter & Gamble and Colgate-Palmolive — confronted similar pressures but recorded significantly different results. Both companies were squeezed by a rapid run-up in raw material costs in the face of growing inability to control their own pricing as the purchasing clout of big-box retailers grew. Both companies also faced ...