Despite strong economic headwinds, Procter & Gamble Co.’s growth strategy remains on course, chairman and chief executive officer A.G. Lafley told shareholders during the company’s annual meeting Tuesday morning.
“Last year, I told you P&G is designed to grow,” he said, acknowledging that at the time few could have predicted the economy’s current beleaguered state of high gas prices, rising unemployment and declining retail and auto sales. “I am as confident today as I was a year ago,” said Lafley, adding that while it’s more difficult to grow and sustain growth today than it has been in many years, P&G’s fundamentals remain intact.
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