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P&G Global Marketing Chief Stengel Steps Down July 15, 2008

BATAVIA, Ohio (AdAge.com) — Procter & Gamble Co. Global Marketing Officer Jim Stengel is stepping down, the company announced, to be replaced by Marc Pritchard, 48, former head of P&G’s cosmetics business and who most recently oversaw a stepped-up global restructuring effort for the company.

Mr. Stengel, 53, has been P&G’s global marketing officer since 2001 and oversees the company’s $5.3 billion marketing budget. He will retire Oct. 31 after 25 years at the company. Until that time, effective Aug. 1, Mr. Stengel will work on special projects, continuing to report to Chief Operating Officer Robert McDonald.

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