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P&G/Gillette management

This article was originally published in The Tan Sheet

Executive Summary

Gillette Global Oral Care President Bruce Cleverly, who headed Gillette's Oral-B line, will assume the post of president of global oral care following the completion of Procter & Gamble's acquisition of Gillette, P&G announces July 19. The $57 bil. merger was approved by the European Commission July 15 and is on track to close in the fall (1"The Tan Sheet" July 18, 2005, In Brief). Other management changes following the deal's completion include the appointment of Charlie Pierce to president, P&G Oral Care. Pierce currently serves as president of P&G Global Oral Care. Additionally, Charles Bergh, P&G president on special assignment, will assume the position of president on special assignment - blades and razors. Mary Ann Pesce, president of Gillette global personal care, will be elected president - new business development...

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P&G/Gillette

Merger is approved by the European Commission July 15, with the condition that P&G sell its battery-operated toothbrush business. Deal is slated to close this fall pending U.S. approval. Shareholders of both firms approved the merger in separate July 12 meetings. During the P&G meeting, CEO A.G. Lafley defended Gillette CEO Jim Kilts' planned compensation package and stated that Kilts will join the same bonus programs as other execs and receive a salary and options that are "the continuation of what he's receiving today at Gillette." Kilts' compensation has been scrutinized since the deal's January announcement, and is under investigation by the Massachusetts Secretary of the Commonwealth...

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