Procter & Gamble (P&G) announced Shailesh Jejurikar, currently COO, will become CEO on January 1, 2024, succeeding Jon Moeller who will transition to executive chairman. Jejurikar, who joined P&G in 1989, will be the first Asian CEO in the company's history. This announcement follows P&G's recent decision to cut 7,000 jobs due to slowing sales. Jejurikar's annual salary will be $1.6 million, plus potential bonuses and stock options totaling over $17 million.

Prepared by Christopher Adams and reviewed by editorial team.