Procter & Gamble Co.’s David Taylor will take over for A.G. Lafley as the company’s new CEO on November 1st, 2015. He is currently group-president global health and grooming. Taylor has been at P&G since 1980 – and his background is mainly in manufacturing, rather than marketing.

When Taylor’s new position becomes official in November, A.G. Lafley will become executive chairman of the board. Lafley led P&G from 2000 through 2009, and then returned in 2013 to help realign its portfolio, while strengthening the company form a product innovation standpoint.

Jim McNerney, lead director of P&G’s Board, said, “We thank A.G. for returning as CEO to lead P&G’s transformation. The Company is now organized into four industry-based sectors with a focused portfolio of 10 categories and 65 brands that play to P&G’s strengths. Productivity results are strong and sustainable. Stronger category business and product innovation plans are in place. Now is the time to transition to David as CEO, while continuing to benefit from A.G.’s strategic counsel as Executive Chairman.”

McNerney continued, “David is a proven leader who has the experience and track record of delivering results. He has a broad understanding of P&G’s business, having worked on several categories in multiple regions around the world. He has helped build many of the Company’s most successful brands and businesses. The Board is confident that David will lead P&G to execute the company’s strategies to win with consumers, and improve shareholder value.”

Lafley added, “We are a more focused and balanced company, committed to winning with consumers and creating value for shareholders. We have strengthened our brand and product innovation pipeline, while streamlining our cost structure. With our plans for portfolio realignment essentially complete, P&G is positioned to deliver improved results. The Board and I are confident that now is the time to transition the CEO role to David who will sharpen the strategies and lead the execution of the next important phase of building a better P&G.”

Watch this video featuring David Taylor.