A.G. Lafley is back in command as president and chief executive officer at P&G, taking over in a pinch as Bob McDonald suddenly announced his retirement from the company after 33 years. Lafley has also been elected to the board of directors and will serve as its chairman. He joined Procter & Gamble in 1977 and served as president and CEO from 2000 to 2009. McDonald joined the consumer products giant in 1980 and served as president and CEO from 2009 to 2013. Many pundits speculate that Lafley is an interim solution as P&G looks for a long-term replacement that will bring them to new levels of performance and profitability, particularly in the beauty segment. But Lafley has been quick to reorganize so it looks like he may be sticking around for a while.

Lafley (Top) is in  and McDonald is out at P&G.