Procter & Gamble’s new CEO McDonald faces shareholders; seeks 1B more customers globally

P&G’s new CEO McDonald seeks 1B more customers

CINCINNATI — The Procter & Gamble Co.’s new CEO wants to fire up growth by adding a billion new customers around the globe over the next five years.

P&G veteran Bob McDonald spoke with shareholders Tuesday in the first annual meeting since he moved up from chief operating officer on July 1 with sales down as households cut spending in the recession. McDonald says P&G reaches about 4 billion people now, but is focusing on getting more people to buy more products such as Pampers diapers and Gillette shavers in emerging markets, led by China and India.

P&G officials said recently they expect sales to start coming back this fall. P&G stock has been climbing back after sliding to $43.93 in March, but was down 54 cents at $56.96 Tuesday morning.