Smale to Remain As Chairman of Executive Committee
CINCINNATI (AP) _ John G. Smale, former chairman of The Procter & Gamble Co., said Wednesday he will retire as an officer and employee on Jan. 1, after nearly 40 years with the company.
″John Smale had the vision of Procter & Gamble as a truly global company,″ said Edwin Artzt, who succeeded Smale as chairman and chief executive.
Smale, 63, joined the company in 1952. He has been a director since 1970, and was chief executive from 1981 until Jan. 2, 1990.
During Smale’s term as chief executive, P&G’s sales climbed from $11.5 billion a year to $21.4 billion a year, and earnings increased from $668 million to $1.2 billion.
″During the 1980s, he led Procter & Gamble’s major expansions around the world, including our entries into such counties as Brazil, Turkey, Korea and now eastern Europe,″ Artzt said.
Smale will continue on the board of directors and as chairman of the executive committee.