Procter & Gamble’s president of Europe, Middle East and Africa, Harald Einsmann, is to retire at the end of this year, to be replaced by Wolfgang Berndt, head of the company’s North American operation.
Einsmann has headed the European business as executive vice-president and then president for the past 14 years.
P&G chairman and chief executive John Pepper says: “Since Einsmann assumed overall responsibility 14 years ago, our sales in this area have grown more than fivefold to about $12bn (7.3bn), and our profits have grown more than tenfold.”
Berndt will assume the new role on October 1, and Einsmann will work on a “special assignment”, reporting to Pepper until he officially retires on February 1, 1999.
Berndt will be replaced as president of North America by AG Lafley, head of Asia. He is tipped as a possible replacement for Pepper, who will retire in the next five years.
Sales in Europe, Middle East and Africa account for one third of P&G’s total turnover of about $35bn.