Procter & Gamble’s new CEO McDonald faces shareholders in annual meeting

P&G’s McDonald faces shareholders

CINCINNATI — The Procter & Gamble Co.’s new CEO will give shareholders a look at plans for growth at the consumer products company’s annual meeting.

P&G veteran Bob McDonald moved up from chief operating officer on July 1 with sales down as households cut spending in the recession. But P&G officials said recently they expect sales to start coming back this fall as they offer new products, reduced prices and promotions focused on value.

McDonald says the company can increase its reach in emerging markets, expand sales in outlets from drug stores to online, and build on such core brands as Pampers diapers, Tide detergent and Gillette shavers.

Shareholders meeting Tuesday have seen P&G stock climb back after sliding to $43.93 in March. Shares closed Monday at $57.50, down 6 cents.