Sept 27 Activist investor William Ackman pressed
for Procter & Gamble Co Chairman and Chief Executive
Robert McDonald to be stripped of both roles in a meeting
earlier this month attended by two directors and McDonald
himself, the Wall Street Journal reported late on Wednesday.
Ackman made clear his disapproval of McDonald's leadership
in the Sept. 4 meeting that was attended by board members James
McNerney, CEO of Boeing Co, and Kenneth Chenault, CEO of
American Express Co, the paper said.
Though the board has not taken any action since the meeting,
McDonald's job could be at risk if the cost-cutting initiatives
he has announced do not deliver results, the Journal said,
citing two people familiar with the board's approach to the
P&G, whose brands include Pampers, Gillette and Tide, is in
the midst of a $10 billion restructuring. Ackman's Pershing
Square Capital LP bought roughly $1.8 billion worth of its stock
this summer, giving him a holding of about 1 percent.
P&G could not be immediately reached for comment outside of
regular business hours.