Procter & Gamble Co (NYSE: PG) has announced a leadership transition, with current President and Chief Executive Officer Shailesh Jejurikar set to also become Chairman of the Board effective August 1.

Current Executive Chairman Jon Moeller will retire from the Board on the same day and formally leave the company on August 14, ending a 38-year career with the consumer goods giant. This move marks a smooth leadership handover at the top of the company.

Jejurikar, who succeeded Moeller as CEO on January 1 of this year, will now consolidate both the Chairman and CEO roles. He joined Procter & Gamble in 1989 and became a member of the global leadership team in 2014. He has overseen core businesses such as global fabric and home care, and has led strategic shifts in the company's supply chain and information technology functions.

Moeller spent nearly four decades at Procter & Gamble, serving as Chief Financial Officer, Chief Operating Officer, and CEO from 2021 until earlier this year, when he transitioned to Executive Chairman. In a statement, Jejurikar thanked Moeller for his "tireless and steady leadership" and noted that his "strategic vision has been instrumental in shaping the Procter & Gamble of today."

The top-level reshuffle coincides with a restructuring plan at Procter & Gamble involving the elimination of several thousand global positions. The company also released its fiscal fourth-quarter results for the 2026 fiscal year on the same day, reporting quarterly revenue of $21.2 billion, which fell short of market expectations, but adjusted earnings per share of $1.43, slightly above consensus.

Jejurikar characterized the current fiscal year as a "foundation-building year" and expressed confidence in the company's growth plans for the coming year.