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BUSINESS

When will a woman run P&G?

Alexander Coolidge
acoolidge@enquirer.com
  • Analysts say it's only a matter a time when P&G, a company that sells to women, is run by a woman
  • P&G has nine female senior executives – the highest among America's largest companies on the S&P 500
  • There are 20 sitting female CEOs among the S&P 500
  • Women were considered serious contenders for P&G's CEO position in 2009 and 2015
Fama Francisco

Procter & Gamble likes to say the consumer is the boss. And throughout the world, women are that target customer, courted with ad campaigns that declare "Thank you, Mom."

A man, David Taylor, will become P&G's next corporate boss, ascending to the post of CEO on Nov. 1. But analysts say P&G's growing roster of top female executives makes it more likely a woman will one day take charge of the maker of Tide laundry detergent and Pampers diapers.

"It's just a matter of time. I don't think it will be very long, there are some very bright women with huge jobs at P&G that are just a step away from being CEO," said Valerie Newell, chairman and managing director of Riverpoint Capital Management Downtown.

There are only 20 female CEOs among America's largest companies on the S&P 500, including heads of consumer companies, Pepsico Inc., Mondelez International Inc. and Campbell Soup Co.

While P&G hasn't had a female CEO yet, the consumer product giant has the highest number of senior executives among America's largest companies, according to an Enquirer analysis of Bloomberg data. Women account for 38 percent of P&G's top executive ranks, 44 percent among managers and 36 percent of all employees, according to the data.

At P&G, women run multiple worldwide, billion-dollar business units, oversee North American sales, preside over research and development, legal and other core operations.

Newell credits outgoing CEO A.G. Lafley and former CEO John Pepper for pushing the advancement of women into top roles not at just support functions, but also at business units and operations where future P&G CEOs are traditionally groomed.

On Monday, P&G named Fama Francisco as the global head of its $5-billion feminine care business. The promotion makes her one of about 30 executive officers for the company – nine of them are women.

Kroger, CME Group and Cummins have seven. Zoetis Inc. has six. Apache, IBM, Northern Trust, Northrop Grumman and Target all have five senior female executives. Macy's is one of 16 S&P 500 companies with four, including Cincinnati-based CFO Karen Hoguet.

Lori Hudson, a portfolio manager at Bahl & Gaynor in Downtown, said P&G and other consumer companies have recognized promoting women to major positions is valuable in a sector where women are the majority of the consumers.

"Women tend to be the buyers of beauty products and diapers," Hudson said. "Having top women as executives brings an important perspective, especially when you're selling so much to women."

Women were serious contenders to become P&G's CEO in 2009 and this year, but so far haven't made it to the corner office.

Early this year, P&G signaled Taylor, 57, was the likely next CEO when he was made the worldwide head of the beauty business in addition to grooming and health, making him responsible for half the company's sales. Business results did not bolster the case for the two perceived female contenders.

Here's the rundown on P&G's top female executives:

Linda W. Clement-Holmes, 53, chief information officer

The Chicago native is the worldwide head of IT, in charge of its smooth operations and ensuring its security. Clement-Holmes rose through the technical and support functions ranks.

Before her current post, other notable stints include senior roles in global business services from 2012-2014 and chief diversity officer from 2010-2012. She joined the company in 1983.

Fama Francisco, 47, president of global feminine care

Previously vice president of global feminine care, was promoted to president of the business unit this week, effective Nov. 1. Prior to feminine care, she was vice president and general manager of P&G's North America baby care business. From the Philippines, she is the highest-ranking Asian female executive at P&G. She joined the company in 1989 in the sales division.

Mary Lynn Ferguson-McHugh, 55, group president of global family care

A group president for more than five years, Ferguson-McHugh is one of P&G's most senior female executives. She currently oversees the unit that includes Bounty paper towels, Charmin toilet paper and Puffs tissue. From 2011 to 2014, she also ran all Western European sales operations.

Originally from California, she joined P&G in 1986 and spent her early years in the health care unit, eventually becoming a vice president of personal health care. She switched to family care, before heading off to Europe.

Kathleen B. Fish, 58, chief technology officer

Oversees all research and development at P&G as it searches for the next Tide Pods, Crest Whitestrips or Swiffer.

A Texas native, Fish joined the company in 1979 and rose through the R&D ranks, first in beauty care. Later, she spent more than half a dozen years each in baby care then in fabric care research.

Colleen E. Jay, 52, president of specialty beauty businesses

A president for the last five years in beauty, Jay is currently managing the 43 brands that will be merged with Coty next year – including CoverGirl makeup, Wella and Clairol hair colors and licensed fragrances for Dolce & Gabbana, Gucci and Hugo Boss.

She joined P&G in 1985 in her native Canada, holding numerous roles in several units, including beauty, health, home and fabric care. In 2000, she spent half a dozen years as the vice president of home care in North America. Then in 2006, she spent three year in China, as a vice president marketing feminine care and personal care and later also oral care.

R. Alexandra Keith, 47, president of global skin and personal care

Keith runs the business unit that includes Olay and SK-II skin care brands as well as Secret and Old Spice deodorants.

She joined P&G in 1989, spending her first half dozen years in logistics before switching to the branding and marketing side. From 1995 to 2010, she spent most of her time in the beauty side of the company. From 2010 to 2014, she worked in fabric care.

Deborah P. Majoras, 51, chief legal officer and secretary

Majoras is P&G's top lawyer, overseeing legal and regulatory affairs for the companny doing business in 180 countries.

She joined the company in 2008 as a senior vice president and general counsel. Prior to that, she was the chairman of the U.S. Federal Trade Commission. She also was a deputy assistant Attorney General in the Antitrust Division at the U.S. Justice Department. She was also first an associate and later a partner at Jones Day law firm.

Valarie L. Sheppard, 51, senior vice president, comptroller and treasurer

Sheppard is P&G's No. 2 accountant behind Jon Moeller.

The Indianapolis native began as a tax analyst and later a profit forecaster for laundry and dish care. Years later, she was stationed in Asia as a finance director and later manager of finance & accounting before returning to the U.S. She joined the company in 1986.

Carolyn Tastad, 54, group president of North America selling & market operations

Born in Canada, Tastad runs selling operations in North America – where the company generates 40 percent of its revenues and an even larger portion of its profit. In addition to being P&G's largest market, North America is often the launching pad for most of the company's new products.

She joined the company in 1983 as an analyst, but quickly moved into sales. Before her current position, she held numerous positions overseeing sales operations for several Canadian and U.S. geographies as well as running global sales for the prestige business unit.

CLOSE, BUT DIDN'T MAKE IT

Deb Henretta, 54

Deb Henretta ran P&G's $20-billion beauty business for nearly three years until January. A respected executive, who ran the diaper business and Asian operations, she was unable to turn the troubled unit around.

Henretta was named the global president for e-business in January, a new position, but retired in June.

After years of dragging overall P&G results, the company announced in July it was carving off 43 beauty brands that will merge with Coty Inc.

Melanie Healey, 54

Melanie Healey ran North American operations for P&G for five years, until announcing plans to retire in October. She left the company in June.

Before overseeing P&G's largest market, she ran global feminine care and global health care for the company.

Declining U.S. and Canadian sales resumed growth under her stewardship, but slowed to a crawl in the last few years as the economy sputtered.

Susan Arnold, 61

Now an operating executive with the Carlyle Group, Arnold, then 55, was the global president of P&G's business units in 2009, when she announced she would leave P&G. The disclosure the then P&G vice chairman was stepping aside after 29 years at the company came shortly before the company named Bob McDonald as its future CEO.