Susan Arnold will retire from Procter & Gamble Co, the world’s biggest consumer-products maker has announced.
By Rebecca Waters
Arnold, who is credited with expanding P&G’s beauty business and turning Olay into a $1 billion brand, steps down as President of Global Business Units today, after 29 years with the Cincinnati-based company. She will continue to serve in a “special assignment,” reporting to CEO Alan Lafley, until September 1, P&G said.
A spokesman for the company, Paul Fox, said that it was Arnold's longtime intention to retire when she turned 55, which she did yesterday, March 8. He added that Arnold "has no plans to join another company at this time," but she will continue to serve on the boards of Walt Disney Co, McDonald’s, Catalyst and Save the Children.
Arnold joined P&G in 1980 as a Brand Assistant and became President of Global Business Units in 2007. P&G said that a successor has not been named.