CINCINNATI — Procter & Gamble Co. announced Thursday that Jon Moeller, currently vice chairman and chief operating officer, will succeed David Taylor as president and chief executive officer, effective November 1. Taylor will become executive chairman.

Jon Moeller

“We thank David for his strategic leadership and guidance over the last six years as the company has returned to consistent balanced growth and value creation, said James McNerney, lead director of P&G’s board. “A strong plan for sustained success is in place and the board unanimously agrees that now is the time to transition to Jon as CEO. We are fortunate and grateful to have David continue as executive chairman.”

McNerney added that the board is confident that Moeller is the right successor to Taylor.

“Jon has been an integral part of P&G’s leadership team for well over two decades, helping develop the strategies that P&G people are executing with excellence to drive P&G’s growth and value creation,” McNerney said. “He is an outstanding leader, and the Company will benefit from his ongoing leadership to build on the strong momentum he has helped create over the last few years.”

Moeller joined P&G in 1988. He has been a member of P&G’s global leadership team since 2009, serving as chief financial officer, chief operating officer, and vice chairman. Throughout his career, he has held various senior leadership roles in categories, sectors and regions, and helped build several of P&G’s core businesses. Mr. Moeller played a pivotal role in designing and implementing P&G’s portfolio, superiority, productivity and organization design strategy, as part of one of the most significant transformations in the Company’s history.

“I am honored to serve as P&G’s CEO,” Moeller said. “My confidence in the future is rooted in my confidence in P&G people. They are committed to lead, motivated to win, and have a strong focus on sustained excellence in everything we do—serving consumers and delivering for shareholders through an integrated strategy that is delivering balanced growth and value creation.”

P&G also announced that Shailesh Jejurikar has been elected chief operating officer, reporting to Moeller, effective October 1. He currently serves as the CEO of the Company’s Fabric & Home Care sector, P&G’s largest business unit.