By and  on June 9, 2009

Robert McDonald has reportedly been named chief executive officer of Procter & Gamble, replacing A.G. Lafley, who will remain as the company’s chairman. News of the succession is expected to be announced at a Deutsche Bank Global Consumer & Food Retail Conference in Paris this morning.

McDonald, 55, P&G’s chief operating officer, had long been thought of as the frontrunner for the position, a notion reinforced when his top competitor for the spot, Susan Arnold, president of global business units, abruptly retired from the company in early March.

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