P&G North America/Beauty Head Lafley Named President, CEO

Procter & Gamble CEO-elect Alan "A.G." Lafley plans to sort through the company's new and core businesses during the next six weeks and make "tough" investment choices to forge a more carefully paced strategic direction, the exec said during a conference call with securities analysts June 8. Lafley will succeed Durk Jager, 57, who is retiring July 1.