The Procter & Gamble Company Board of Directors has elected A.G. Lafley, 54, currently president and chief executive, chairman of the board effective 1 July, in addition to his current responsibilities. This is in anticipation of the retirement of company chairman John E. Pepper on 1 July, after 38 years of service. Pepper will remain a director of the company and will continue as chairman of the board’s executive committee for an additional year.
