Procter & Gamble Announces Executive Changes; Licenses Old Spice and Noxzema

The Procter & Gamble Company announced today that the board of directors has elected Paul Polman (44), previously president-global fabric care, to be president-Western Europe. He succeeds Antonio Belloni (46), who is leaving the company to pursue a new career opportunity. Mr. Polman’s appointment is effective May 1, 2001.

“Toni Belloni has made tremendous contributions over his 22 years at P&G and has created a strong foundation on which to build P&G’s Western Europe business,” said A. G. Lafley, P&G’s president and chief executive. “Paul Polman’s extensive experience in leading both key European local market organizations and a global business unit makes him the ideal choice to run our business in Western Europe. He will do a superb job, building on the strong strategies and plans Toni has put in place.”

A native of the Netherlands, Mr. Polman joined P&G in 1979. Prior to being named president-global fabric care in 1999, his experience included leading the company’s businesses in Belgium, France, Spain, the U.K. and Ireland.

In a separate action the board elected Charles E. Pierce (44), currently vice president-global and North America commercial products group, to be president-global family care, effective May 1, 2001. He is succeeding Gary T. Martin whose retirement was announced earlier this year. Mr. Pierce, a native of New York, joined P&G in 1980. His past experience with the company includes assignments on hard surface cleaners and laundry products before being named vice president-global commercial products group in 1999. “Charlie is an excellent leader who will continue our strategy of focusing on big brands and big opportunities for the company’s family care business,” said Mr. Lafley.

In an unrelated announcement, P&G said Thursday it has licensed its Old Spice and Noxema shaving products to Universal Razor Industries of Los Angeles, CA.

URI will assume responsibility for development and production of those lines in the United States, Canada and Puerto Rico. P&G will retain rights to the trademarks and will continue to operate and manage the Old Spice antiperspirant and fragrance products and Noxema’s skin cleansing line.

“Our consumers expect high quality products from Old Spice and Noxema and we are confident this agreement will result in further development of our shaving lines,” said Susan Arnold, president of P&G’s global personal beauty care business.