The new boss of Procter & Gamble this week admitted its Organisation 2005 restructuring plan was a case of too much, too fast ­ and had led to lower than expected growth in sales and earnings. Alan Lafley, who is taking over as president and chief executive, said he was prepared to make some tough choices to better control costs: "Over the next six weeks I will sort through the new and established business initiatives to make choices on investments and ensure a balanced portfolio that will drive top and bottom line growth." He replaces Durk Jager, who retires next month in the wake of another P&G profits warning. Jager's predecessor John Pepper returns as chairman. {{NEWS }}

Topics