P&G to regroup products into four sectors

Procter & Gamble Co is working to regroup its countless products and brands into four sectors, each led by a president reporting to chief executive A.G. Lafley, who returned to the helm last week, the Wall Street Journal reported.

The elevation of four executives to the new roles would publicly identify candidates most likely to succeed Lafley, who is expected to step aside in two or three years, the Journal reported citing people familiar with the matter.

Lafley stepped down as CEO in 2009 but returned last Thursday to replace Bob McDonald as chairman and chief executive of the world's largest household products maker, which is undergoing a major restructuring to improve productivity and flexibility.

P&G currently organizes its products, ranging from Gillette razors to Duracell batteries, into two global business units - beauty and grooming and household care. The composition of the four new sectors was not immediately clear, the Journal said.

The two vice chairmen, Werner Geissler and Dimitri Panayotopoulos, are not seen as likely to become CEO and are not in the running to head the new sectors, the business daily said.

Candidates for the four spots include Melanie Healey, group president of North America; David Taylor, group president of global home care; Martin Riant, group president of global baby care; Giovanni Ciserani, group president of global fabric care; and Deborah Henretta, group president of global beauty care, the paper said.

The four presidents would not be the only aspirants for the top job, the business daily reported.

P&G could not be immediately reached for comment outside of regular U.S. business hours.