The Procter & Gamble Company (NYSE:PG) today announced that current P&G Director Johnathan Rodgers has decided not to seek re-election at P&G’s annual shareholder meeting in October 2013, choosing to retire from the Board at that time. The Company also announced the appointment of Terry Lundgren, 60, chairman, president and chief executive officer of Macy’s Inc. to its board of directors. The appointment is effective immediately.
Terry Lundgren (Photo: Business Wire)
Mr. Rodgers, 66, who is a member of the Governance & Public Responsibility and Innovation & Technology committees of the board, has been a director since 2001. He is a former broadcast and cable television executive. “Johnathan has been an outstanding director and a pillar of support to P&G for more than a decade. He is one of longest serving directors and his knowledge and perspectives of media, communications and technology have been instrumental in shaping our thinking. We will continue to benefit from those contributions until his departure in October and thank him for his dedicated service over the years,” commented chairman, president and chief executive officer, Mr. Bob McDonald. "We are delighted to welcome Terry Lundgren to the board,” continued Mr. McDonald. “He brings extensive leadership, strategy and risk management experience, as well as exceptional knowledge of the consumer industry and dynamic marketing practices. His hands-on experience in organizational optimization will be invaluable as we continue to drive our productivity programs forward.” Mr. Lundgren will serve on the Governance & Public Responsibility and the Innovation & Technology committees of the P&G Board. Mr. Lundgren has been chairman, president and chief executive officer of Macy’s since 2004. Macy’s is one of the world’s leading and most recognized department stores with over 840 retail sites across the U.S. It was acquired by Federated Department Stores in 1994 and Federated assumed the Macy’s name in 2007.