P&G Elects Former Mexican President to Board

The Procter & Gamble Company today announced the election of Ernesto Zedillo Ponce de Leon, 49, to the company’s board of directors effective immediately. Mr. Zedillo was president of Mexico from 1994-2000.

“We are delighted to welcome Ernesto Zedillo to our board,” said P&G Chairman John E. Pepper. “He is a distinguished leader and economist. He drove unprecedented growth during his six years as president of Mexico. His vast experience in social, economic and trade issues will add great depth and insight to our board.”

Dr. Zedillo commented, “I first came to know P&G as a consumer of its products. During service to my country, I had opportunities to learn more about its business operations and its corporate citizenship. As a result, I have developed an enormous respect for P&G and am honored to be elected to its board of directors.”

Dr. Zedillo holds a degree in economics from Mexico’s National Polytechnic Institute and a doctoral degree from Yale University. He began his professional career at Mexico’s Central Bank as an economist. In 1987 he was appointed undersecretary of the budget for the Mexican government and was later appointed secretary of economic programming where he contributed to the successful economic reforms undertaken by the government in the early 1990s. Appointed secretary of education in early 1992, he launched sweeping reforms to the national education system in terms of decentralization and updates to the curriculum. Zedillo was elected president in 1994. His administration is widely recognized for the profound democratic reform and the strong economy it established. During his presidency, Mexico achieved its highest GDP growth in recent history.

P&G Mexico began operations in 1948. Today it is the company’s fifth largest business with approximately $1.5 billion annually in sales. Headquartered in Mexico City, it operates six plants and employs around 5,000 people. P&G products marketed in Mexico include: Ariel, Downy, Dawn, Safeguard, Zest, Pantene, Crest, Vicks, Pampers, Always, Charmin and Pringles.