P&G to strengthen focus in Asia, Africa, 'where the babies are being born, where the new households are being formed,' CEO says
August 5, 2011
– Consumer products maker Procter & Gamble Co., which reported double-digit revenue and profit increases for its fourth quarter, is increasingly relying on emerging markets such as China, India and Brazil for growth as the U.S. and other developed economies remain sluggish.
In a conference call with analysts, P&G chairman and CEO Bob McDonald was asked about the company's plans: ANSWER (CEO Bob McDonald): "If someone looks back at our company 10 years from now, they'll wonder if the leadership of the company at this time took the right steps to move the center of gravity more toward Asia, more toward Africa, where the babies are being born, where the new households are being formed. Certainly, we've been in the midst of that, and you're going to continue to see us make announcements and do things to get ready for the future. Because that's where the future is, as we try to get to all the people on the planet and have products for them to improve their lives."
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