February 28, 2008 / 4:30 PM / 12 years ago

U.S. FTC chairman to step down in late March

WASHINGTON, Feb 28 (Reuters) - U.S. Federal Trade Commission Chairman Deborah Platt Majoras will resign in late March and become general counsel of Procter & Gamble (PG.N), the FTC and company said on Thursday.

The chairman’s job will likely be filled by William Kovacic, one of the two remaining Republican commissioners, according to an antitrust lawyer who spoke on condition of anonymity.

The five-member commission also has one Democrat and one independent.

The FTC enforces antitrust laws and investigates deceptive advertising.

Before heading the FTC, Majoras was principal deputy assistant attorney general of the U.S. Department of Justice’s Antitrust Division. While there, she negotiated the department’s settlement with Microsoft (MSFT.O) after a long court battle over allegations the software firm abused market dominance.

Prior to her government service, Majoras was an antitrust partner with law firm Jones Day.

After nearly four years at the FTC, Majoras will begin work on June 1 as Procter & Gamble’s vice president and general counsel based in Cincinnati, said company spokeswoman Robyn Schroeder. (Reporting by Diane Bartz; Editing by Brian Moss)

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