NEW YORK & LONDON, April 9 /PRNewswire-Asia/ -- Clayton,
Dubilier & Rice today announced that A.G. Lafley, former
Chairman of the Board, President and Chief Executive Officer of The
Procter & Gamble Company (NYSE: PG), has joined the Firm as a
Special Partner.
In his 32-year career at P&G, Mr. Lafley served in a variety of
leadership positions, including nine years as President and Chief
Executive Officer. Originally brought on in P&G's marketing
division in 1977, Mr. Lafley held numerous senior management
positions before being named Group Vice President in 1992, an
Executive Vice President in 1995 and, in 1999, President Of Global
Beauty Care and North America. He served as Chief Executive Officer
from 2000 to 2009 and as Chairman of the Board from 2002 to
2009.
As CEO, Mr. Lafley led a dramatic transformation of P&G, which
included re-focusing the company on: core businesses and brands;
faster-growing and higher-margin beauty, grooming and health care
segments; and building market share in developing countries. Under
his leadership the number of P&G billion-dollar brands grew
from 10 to 24, and the company more than doubled sales from US$38
billion in 1999 to US$79 billion in 2009. The Company's market
capitalization also more than doubled, making P&G one of the
five most valuable companies in the U.S. and among the 10 most
valuable companies in the world at the end of Mr. Lafley's tenure
as CEO.
"A.G. has proven to be one of the most effective corporate leaders
of the 21st century, and we are very pleased to welcome him to
CD&R," said Donald J. Gogel, President and Chief Executive
Officer of CD&R. "His experience building strong business
operations, promoting innovation, and spurring growth across global
markets enhances our value creation capabilities."
"Private equity can be a powerful agent of constructive change and
corporate renewal," said Mr. Lafley. "CD&R's successful history
of building long-term value by improving the operational
performance of its portfolio businesses exemplifies the positive
role that private equity can play in the economy and is what
attracted me to the firm."
Mr. Lafley has been honored with some of the highest recognitions
in business. He was named "CEO of the Year" by Chief Executive
Magazine in 2006, "Executive of the Year" by the Academy of
Management in 2007, and "Leader of the Future" by the Peter F.
Drucker Leader to Leader Institute in 2008. He is the recipient of
the U.S. Navy's Lone Sailor Award (2008), the Diversity Best
Practices CEO Diversity Leadership Award (2008), the Peterson Award
for Business Statesmanship (2009), and the Edison Achievement Award
for Innovation (2010). He is on the Board of Directors of General
Electric (NYSE: GE) and has served as a director at General Motors
Corporation (NYSE: GM) and Dell Inc. (NASDAQ: DELL) during the last
five years. He serves as Chairman of the Hamilton College Board of
Trustees.
About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice, LLC is a private
equity firm with an investment strategy predicated on producing
superior financial returns through building stronger, more
profitable businesses. The Firm's professionals include a
combination of financial and operating executives. Since inception,
CD&R has managed the investment of more than $12 billion in 46
U.S. and European businesses representing a broad range of
industries with an aggregate transaction value of approximately $70
billion and revenues of nearly US$100 billion. The Firm is based in
London and New York. http://www.cdr-inc.com .
Contact:
Thomas C. Franco
Tel: +1-212-407-5225
Email: [email protected]
Daniel G. Jacobs
Tel: +1-212-232-2227
Email: [email protected]
Anthony Silverman
Tel: +44-20-7379-5151
Email: [email protected]
SOURCE Clayton, Dubilier & Rice