Procter & Gamble – Drip, drip!

The pressure continues to grow on Mr. Robert McDonald, Chief Executive and Chairman of Proctor & Gamble – as I thought it would.  The Wall Street Journal today reported that a 13 page letter written by Mr. Gary Martin, former president of family care at P&G, was given to lead independent director, Boeing Co. CEO Jim McNerney, on April 12 of this year.  Mr. Martin detailed a number of concerns about Mr. McDonald’s leadership and called on the board to strip the CEO of his chairman title.

All eyes (and ears) will be on deck, as P&G will report first quarter earnings on Wednesday.  Mr. McDonald is walking a tightrope, without a net as the proverbial handwriting on the wall gets ever more clearer.  As I predicted in my first blog on P&G, the company will have to undergo a major cost cutting exercise as well as shirking their Theoretical Earnings/balance sheet.  This will take time.  Unfortunately time is running out for Mr. McDonald.

Previous blogs on P&G

Procter & Gamble (PG) – Bill Ackman goes after P&G, What Does ModelPrice Guy see?

Procter & Gamble – Front Page Story in the WSJ turns up the Heat on CEO

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