CINCINNATI, OH, July 28, 2015-

The Procter & Gamble Company (NYSE: PG) announced today that David S. Taylor, Group President of Global Beauty, Grooming and Health Care, will succeed A.G. Lafley as Procter & Gamble's President and Chief Executive Officer, effective November 1, 2015. Mr. Taylor has been appointed to the Company's Board of Directors. On November 1, 2015, A.G. Lafley will become Procter & Gamble's Executive Chairman. In this role, Mr. Lafley will lead the Board of Directors, and provide advice and counsel to the CEO and P&G leadership on Company and business strategies, portfolio choices, and organization decisions.

Jim McNerney, lead director of P&G's Board, said, "We thank A.G. for returning as CEO to lead P&G's transformation. The Company is now organized into four industry-based sectors with a focused portfolio of 10 categories and 65 brands that play to P&G's strengths. Productivity results are strong and sustainable. Stronger category business and product innovation plans are in place. Now is the time to transition to David as CEO, while continuing to benefit from A.G.'s strategic counsel as Executive Chairman."

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