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Macy's CEO joins P&G board
January 9th, 2013
CINCINNATI – Terry Lundgren, chairman, president and chief executive officer of Macy's Inc., has been named to the board of directors of Procter & Gamble Co.
P&G said late Tuesday that Lundgren's appointment, which is effective immediately, comes as current director Johnathan Rodgers has chosen not to seek re-election at the company's annual shareholder meeting in October and plans to retire from the board at that time.
"We are delighted to welcome Terry Lundgren to the board," P&G chairman, president and CEO Bob McDonald said in a statement. "He brings extensive leadership, strategy and risk management experience, as well as exceptional knowledge of the consumer industry and dynamic marketing practices. His hands-on experience in organizational optimization will be invaluable as we continue to drive our productivity programs forward."
Lundgren, 60, will serve on the Governance & Public Responsibility and the Innovation & Technology committees of the P&G board.
He has been chairman, president and CEO of Macy's since 2004 and is currently a member of the boards of Kraft Foods Groups, Carnegie Hall, the Partnership for New York City and the Federal Reserve Bank of New York and is chairman of the National Retail Federation.
A former broadcast and cable television executive, the 66-year-old Rodgers has been a P&G director since 2001.
"Johnathan has been an outstanding director and a pillar of support to P&G for more than a decade," McDonald stated. "He is one of longest-serving directors, and his knowledge and perspectives of media, communications and technology have been instrumental in shaping our thinking. We will continue to benefit from those contributions until his departure in October and thank him for his dedicated service over the years."