Procter & Gamble selected Robert A. McDonald as its CEO, citing his board experience and his 29 years with the company, according to the Associated Press.
McDonald will take over July 1, succeeding A.G. Lafley, who became CEO nine years ago. Lafley will remain chairman.
McDonald plans to focus on emerging markets in the developing world, building new plants in countries such as Pakistan and Nigeria. He believes the company can more than double its sales, to $175 billion a year over the next 15 years, by increasing its reach into countries like India, China, and Brazil.
“There’s no question that the basic demographics are going to take the center of gravity of our business to Asia, to Africa — where the people are, where the babies are being born,” McDonald said in an interview last year.