"It was a no-brainer"

A.G. Lafley's $57 billion acquisition of Gillette not only creates a new Procter & Gamble, with more than $60 billion in revenues and almost $200 billion in stock market value. It also catapults one of the quietest, most self-effacing CEOs into the ranks of the world's top chiefs. Lafl...

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Bibliographic Details
Published in:Fortune 2005-02, Vol.151 (4), p.96
Main Author: Sellers, Patricia
Format: Magazinearticle
Language:English
Subjects:
Acquisitions & mergers
Chief executive officers
Collaboration
Consumer goods
Corporate culture
Corporate profiles
Cosmetics industry
Lafley, Alan G
Personal grooming
Shaving & shavers
Women
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Summary:A.G. Lafley's $57 billion acquisition of Gillette not only creates a new Procter & Gamble, with more than $60 billion in revenues and almost $200 billion in stock market value. It also catapults one of the quietest, most self-effacing CEOs into the ranks of the world's top chiefs. Lafley is interviewed regarding how the deal unfolded and what it means for P&G. Gillette CEO Jim Kilts call came out of the blue. It was a no-brainer from a strategy standpoint. Culture was a big issue in deciding to do the deal. Gillette was looking for a collaborative culture. In fact, Lafley decided that they were going to be collaborative in the negotiations. He likes core businesses with leading brands with big market shares and real innovation capability. Gillette has a 70-plus global market share in razors and blades.
ISSN:0015-8259