10.10.11
Procter & Gamble Co. says 42% of managers are women, and they include the corporation's chief legal officer and its treasurer. Six of the 21 executives who are running P&G businesses as line presidents are women -- that's up from one out of 18 in 2000.
P&G also has women in positions crucial to its growth strategy. Melanie Healey is group president for North America, P&G's biggest market with some 40% of sales, while Deb Henretta is group president for Asia, the region of China, India and other emerging markets that are increasing sales at double-digit rates. Gina Drosos heads global female beauty, which the company sees as one of its best areas for product and sales growth.
"The power of diversity comes in the results you deliver," said Chairman, President and CEO Bob McDonald in a statement earlier this year, calling fostering diversity a critical responsibility for the company.
And it makes sense at a company that estimates that 87% of the buying decisions for its products -- such as Tide detergent, Pampers diapers, and Olay skin cream -- are made by women. Its brands also include such feminine care products as Always and Tampax.
"If you really want to reflect the consumers you serve, you need to have a diverse leadership team, and I think P&G has done a great job or realizing that need," Healey said in a recent interview.
With the increasing numbers of women in key positions, there is growing speculation over whether a company that dates to 1837 is heading toward having its first female chief executive. McDonald, 58, is only in his third year as CEO, so there is likely still time for strong candidates of both genders to emerge.
Ali Dibadj, a Sanford C. Bernstein analyst who follows P&G, expects women to be among the top contenders to next head the company, although he doubts that the board will consider that as the top priority.
"Diversity at all levels certainly brings a broader outlook," he said. "I don't see P&G being hung up about the gender of its CEO; they want the best person for the job."