Procter & Gamble names operating chief Shailesh Jejurikar as CEO

 Procter & Gamble CEO Jon Moeller is stepping down in a surprise move just after four years with the company, and the consumer goods giant said he would be succeeded by operating chief Shailesh Jejurikar.

Mr. Moeller, who had been at the helm since 2021, will become executive chairman and will “provide advice and counsel to the CEO on company matters,” P&G said in a statement on Monday, a day before it was scheduled to report its quarterly results.

It did not disclose the reason for the change in leadership.

Under Moeller, the company navigated a post-pandemic sales boom, as well as rising expenses and sticky inflation. P&G shares gained roughly 13% during his four-year tenure.

In June, the company said it would cut 7,000 jobs over the next two years and exit some product categories and brands in certain markets, including some potential divestitures, as part of the broader two-year restructuring plan.

The company, which makes Pampers diapers and Head & Shoulders shampoo, in April warned of higher product prices due to an increase in input costs from the trade war at a time of weakening consumer spending. Its stock is down about 6% so far this year.

Mr. Jejurikar’s appointment, effective January 1, 2026, keeps up with P&G’s preference of naming internal candidates for the top job. Moeller had also risen through the ranks before becoming the COO and then CEO of the company.

The board has nominated Jejurikar as a director at the annual shareholder meeting in October 2025.

Mr. Jejurikar has held roles across multiple P&G businesses, including Health & Beauty Care and P&G Professional. Prior to his current role, he was the head of P&G’s Fabric & Home Care, which includes brands such as Tide, Ariel and Downy.