Companies and Brands

P&G Defends Its Strategy & Its CEO Against Rumors & Activists (PG)

Jon Ogg
The turnaround and potential activist investor situation surrounding DJIA component Procter & Gamble (NYSE: PG) just became a bit more interesting.  There have been reports that the company’s board of directors was considering an ouster of CEO Bob McDonald at the same time that Bill Ackman’s Pershing Square has taken on a large stake in the consumer products giant.

Now we have an SEC filing from P&G’s board of directors stating:

  • “The Board is overseeing a plan to return P&G results to levels that produce the best long term value for shareholders; unanimously supports the plan and Chief Executive Officer, Bob McDonald, as he leads its implementation; and is monitoring its effectiveness.”

Some may take this as a key defense.  Others will say that it is just like a baseball teams issuing a defense of their failing managers saying “We had a vote of confidence and are in full support of our manager” that ends up coming days to weeks before that manager is fired.

We have asked our readers to play arm-chair activist here by telling us via our poll what is the best strategy to pursue to turn P&G back around.  We have some serious concerns about what an activist group can do here because of a $175+ billion market value.  Tell us what you think an activist should try to do at P&G to boost shareholder value:

[polldaddy poll=6385563]

P&G shares have pulled back and are currently down 0.3% at $64.57 so far on Wednesday.  Again, keep in mind that this is a DJIA component.

JON C. OGG

The #1 Thing to Do Before You Claim Social Security (Sponsor)

Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.

A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.

Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.

 

Have questions about retirement or personal finance? Email us at [email protected]!

By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.

By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.