Sunday, June 18, 2000

What's the Buzz?

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P&G's Smale, Artzt keep an eye on things

        In A.G. Lafley's first couple of weeks as chief executive of Procter & Gamble Co., he's in close range of not only chairman John Pepper, but also former chairmen John Smale and Edwin Artzt.

        Those two also maintain offices on P&G's 11th floor executive suites and were well aware of what was going on earlier this month before P&G's stunning announcement that Mr. Lafley would replace retiring chairman and chief executive Durk Jager, Mr. Artzt said.

        Mr. Artzt would not talk about what led to that decision or what role he and Mr. Smale played. But he did say P&G's future remains bright, despite two quarters of disappointing results and a nose-dive in the stock price.

        “All the people that are there are the same people who drove the business successfully,” he said. “The brands are still great brands. So I am optimistic. I think the company has got a great future.”

— Cliff Peale

       

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What's the Buzz?