Procter & Gamble Announce Board Changes
Smith has served on the board since 1995 and was chairman of the audit committee and a member of the governance and public responsibility committee. He was formerly chairman of the board and chief executive officer of General Motors Corporation and is retired chairman of the board of Delta Air Lines Inc. He is also a director of Swiss Reinsurance Company.
"Jack has been an outstanding board member who has made significant contributions to the success of P&G's business. We thank him for his tireless efforts and wish him continued success in the future," comments A.G. Lafley, P&G's chairman and chief executive officer.
The company also announces the appointment of Kenneth I. Chenault (56), chairman and chief executive officer of American Express Company, to the company's board of directors effective immediately.
Lafley adds, "Ken Chenault is an exceptional business leader with a broad and deep understanding of how to win in the global marketplace. His experience and knowledge will make him a valued board member."
Chenault joined American Express in September 1981 from Bain & Co and held several senior management positions at the company prior to his appointment as chairman and CEO in 2001. He holds a JD from