Jim Stengel, global marketing officer at Procter & Gamble, is retiring from the consumer goods giant on October 31. He will step down from his current role on August 1 and will head a “special project” for the company until he leaves.
Marc Pritchard, the currently president of strategy, productivity and growth, will take over from Stengel. He has been working alongside Stengel for the past two years.
It is not clear what project Stengel, who has been with the company for 25 years, will handle although it has been suggested that he is keen to show that marketing can be used as a force for good. It is not known how he would extend this beyond P&G. He has headed a series of ethical-marketing projects during his tenure, including a Pampers program with Unicef.
P&G chairman and chief executive, AG Lafley, says: “Stengel has reinvigorated P&G’s marketing function and strengthen its capability as one of the world leading brand builders. He had helped change the way P&G markets our brands by challenging traditional marketing models and setting new standards for P&G marketing rooted in deep consumer understanding.
He adds that Pritchard is the “right leader” to take P&G marketing into the future.