The Procter & Gamble Company (NYSE: PG), which makes CoverGirl makeup, Olay products and Secret deodorant, will transfer the leaders of its global skin care, cosmetics and personal care unit to Singapore from Cincinnati, Ohio, the company said Thursday.
The transition will take about two years and affect some 20 employees, spokesman Paul Fox said.
Asia is demonstrating the strongest growth in those particular categories, he said. It makes absolute sense to place the leaders of those businesses at the center of that growth.
Deborah Henretta, 51, will become group president-Asia and run the relocated businesses. She is currently group president of Procter & Gamble's Asia and global specialty channel operations.
Henretta will be replaced by the current vice president of Procter & Gamble's Japan business, Hatsunori Kiriyama, who will become president of the company's Asian operations, except for those in Greater China. Kiriyama will become Procter & Gamble's first Asian to run the company's Asian operations.
Procter & Gamble's businesses in Greater China will continue to be led by Shannan Stevenson.
Shares of Procter & Gamble Company (NYSE: PG) rose 53 cents to $64.20 in afternoon trading.
Mike Obel assigns, edits and writes stories about business, markets, finance and economics. Before coming to International Business Times, he worked on the Finance Desk of...