During Procter & Gamble’s annual shareholders meeting Tuesday morning, Robert McDonald, chairman, president and chief executive officer, said that on the heels of celebrating 174 years of business, the company met its goals for 2011. For the fiscal year ended June 30, McDonald said P&G delivered organic sales growth of 4 percent and core earnings per share growth of 8 percent, and increased the quarterly dividend by 9 percent.
McDonald attributed this growth to P&G’s deliverance on three strategies, including executing purpose inspired growth strategies, innovating up and down value tiers and expanding into geographic white space.
“We know we have work left to do to deliver the growth you expect,” McDonald told shareholders, adding, “We haven’t grown at the rates we aspired to [but the company has grown]…in three of the most difficult economic years since the Great Depression.” P&G also increased spend in advertising and marketing, he said.
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Priorities for 2012 include maintaining sales growth momentum, executing price increases with excellence, delivering operating growth and improved productivity. McDonald also said he is confident P&G’s innovation pipeline will deliver growth goals for the next three to five years.
McDonald shared some success stories within the company’s recent product launches, including Gillette Guard, a razor designed specifically for the Indian market based on thousands of interviews with Indian male shavers there and after watching their shaving rituals. McDonald also pointed to Head & Shoulders being the number one hair care brand in the world and how Pantene this fall launched its sustainable packaging to the North American market.