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yesterday

P&G Raises U.S. Prices, Taps Jejurikar as CEO to Offset Tariffs

Restructuring plans include cutting 7,000 jobs, exiting select brands to protect margins against a $1 billion annual tariff headwind.

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Household products made by Procter & Gamble Co are seen on shelves at a Dollar Tree in Newburgh, New York, U.S., May 14, 2023. REUTERS/Jessica DiNapoli/File Photo
Dawn dishwashing liquid, a brand owned by Procter & Gamble, is seen for sale in a store in Manhattan, New York City, U.S., June 29, 2022.

Overview

  • P&G will implement mid-single-digit price increases on about 25% of its U.S. product portfolio starting in August to recoup roughly $1 billion in annual tariff costs.
  • Shailesh Jejurikar, currently chief operating officer, will become president and CEO on January 1, 2026, with outgoing CEO Jon Moeller shifting to executive chairman.
  • The company reported Q4 revenue of $20.89 billion and core EPS of $1.48, both above analysts’ estimates, but forecast full-year organic net sales growth of 1–5%, under consensus.
  • A June restructuring initiative calls for exiting noncore brands and cutting around 7,000 nonmanufacturing positions over two years to drive productivity.
  • P&G is leveraging pricing, innovation and supply-chain flexibility to navigate slowing volume growth and shifting consumer behavior under heightened economic uncertainty.