Fast-moving Consumer Goods (FMCG) giant Procter & Gamble has announced that its Chief Operating Officer (COO) Shailesh Jejurikar will be elevated to the post of CEO. Current CEO Jon Moeller will transition to an executive chairman role, where he’ll lead the board and advise Jejurikar, the company said. This leadership shuffle comes a month after P&G announced it would cut 7,000 jobs, which comes to around 15% of the company’s non-manufacturing workforce.
P&G Chief Communications Officer Damon Jones told Fortune that Moeller leaves behind a strong track record and legacy at P&G. The company ranks 149 on the Fortune 500 and is 19th on the World’s Most Admired Companies list.
READ: Srisu Subrahmanyam named new CEO of Repairify (May 13, 2025)
“We thank Jon for his strategic leadership and guidance as he has played a pivotal role in designing and implementing P&G’s integrated portfolio, superiority, productivity and organization strategy, as part of one of the most significant transformations in the company’s history,” said Joe Jimenez, lead independent director on P&G’s board. “The company has continued to consistently deliver strong growth and value creation through Jon’s steady leadership as CEO. A strong plan is in place for sustained success and now is the time to transition to Shailesh as CEO. We are fortunate and grateful to have Jon continue as Executive Chairman.”
Jejurikar has been COO of the company since 2021. He was also previously the chief executive of global fabric and home care. In addition, he was the executive sponsor of global sustainability at P&G, from 2016 to 2021, when he led “the integration of the company’s sustainability goals into business operations,” according to his LinkedIn.
Born and raised in India, Jejurikar is an IIM Lucknow alumnus who now joins the ranks of Indian American leaders heading global corporations—alongside the likes of Sundar Pichai and Satya Nadella.
Jejurikar will be paid $1.6 million in salary with a potential bonus valued at $3.2 million. The board awarded him long-term equity valued at $14 million, evenly split between performance shares and long-term incentive awards.
READ: UnitedHealth stocks decline as CEO gets replaced (May 14, 2025)
“I am honored to serve as P&G’s CEO,” said Jejurikar in a company statement. “P&G people, our brands, and our capabilities in innovation and operational excellence fuel my confidence for a future of sustained growth and value creation.”
P&G also recently reported quarterly results. These results beat Wall Street’s expectations, but introduced fiscal year 2026 guidance that included a $1 billion hit due to higher costs from tariffs.
“We grew sales and profit in fiscal 2025 and returned high levels of cash to shareowners in a dynamic, difficult and volatile environment,” Moeller said in a news release. Meanwhile CFO Andre Schulten said during a media call that there will be mid-single-digit price increases affecting about a quarter of P&G’s items during the first quarter of fiscal 2026 due to tariffs and innovation.