By and  on May 4, 2011

Procter & Gamble Co. is shaking up its beauty strategy.

Chairman, president and chief executive officer Bob McDonald, who is likely feeling the heat just one week after P&G reported that its beauty unit’s net earnings from continuing operations declined 3 percent to $547 million, has shifted the responsibilities of Ed Shirley, 54, vice chairman of Beauty and Grooming, to Dimitri Panayotopoulos, the vice chairman of Global Household Care, effective July 1.

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