Jim Stengel, P&G’s Chief Marketing Officer since 2001, is stepping down, to be replaced by Marc Pritchard, former head of P&G’s cosmetics business. Stengel’s worked for P&G for 25 years. Ad Age reports that his last day will be Oct. 31.
Why’s he leaving? Was he pushed out? He’s only 53 and, according to AdWeek, he’s got big plans for the future:
[A] P&G rep [said]…Stengel was simply ready to move on. “Jim feels like he accomplished what he set out to do which was reinvigorate marketing functions and strengthen P&G’s capability as a leading brand builder.”
In an e-mail to [friends] … Stengel said he plans to “embark on another journey” with two goals, including “to lift and elevate marketing/brand building to be a more world-improving force” and “to give back in areas where I have a passion and I have something to give.”