Mr. Stengel bids P&G farewell
Procter & Gamble announced that Jeff Stengel, who manages its $5.2 billion marketing budget, shall depart his post this October 1st. Marc Pritchard of P&G's cosmetics sector will adopt the role.
It is unclear what path Stengel plans to tread after his departure. A P&G spokesman told Advertising Age he has "a very personal passion to influence all marketers to embrace the power of marketing as a positive force in the world. He now wants to focus 100% on that."
Stengel recently received the "Advertiser of the Year" award at the Cannes International Advertising Festival.
Chairman-CEO AG Lafley of P&G sent Stengel off warmly. "Jim Stengel … strengthened P&G's capability as one of the world's leading brand builders," he said, adding the soon-to-be ex Global Marketing Officer "helped change the way P&G markets … by challenging traditional marketing models and setting new standards … rooted in deep consumer understanding."
