Procter & Gambling CEO Jon Moeller is about to leave his top job after four years in office, and the consumer goods giant says it will be succeeded by COO Shailesh Jejurikar.
In a statement Monday, P&G said Moeller will become executive chairman and “advise and attorney to the CEO on corporate affairs,” a statement on Monday that it was scheduled to report its quarterly results.
The company did not disclose the reasons for the change in leadership in its statement, but Damon Jones, chief communications officer of Bao&G, told Reuters Moeller's departure was part of the board's plan and orderly transition. He said there were no health problems that led to Mueller leaving.
The Cincinnati, Ohio-based company has a relatively short CEO tenure, dating back to the mid-1990s. Moeller's predecessor, David Taylor, served as CEO for six years, two of which were in Covid Pandemic, when consumer goods companies faced product shortages and supply chain barriers. Taylor then served as executive chairman of the board.
Under Moeller, the company drove the post-pandemic sales boom, rising expenses and rising inflation. During his four-year tenure, P&G stock price was consistent with the S&P 500.
The company made diaper and head and shoulder shampoo makers in April warned that product prices rose as consumer spending weakened due to higher input costs in the trade war. Its stock has fallen by about 6% so far this year.
The company said in June that it would lay off 7,000 jobs over the next two years and exit certain product categories and brands in certain markets, including some potential divestitures, as part of a broader two-year restructuring plan.
“It may not be much of a prospect,” said Brian Jacobsen, chief economist at Annex Wealth Management, which owns P&G stock. “It may be more of a baton in long-term race than a rocking thing.”
Jejurikar's appointment is January 1, 2026, which is in line with P&G's preference for naming internal candidates for the highest job. Moeller was also promoted to the ranks before becoming COO and company CEO.
The board of directors has nominated Jejurikar as director at the annual general meeting in October 2025.
Jejurikar has held roles in several P&G businesses, including Health & Beauty Care and P&G Professional. Prior to his current position, he was the head of fabric and home care at P&G, which included brands such as Tide, Ariel and Downy.