Procter & Gamble Co. appoints new chairman

David Taylor will replace A.G. Lafley as chairman of the board of Procter & Gamble Co., effective July 1.

Lafley, who came back to the company at its leader in 2013, announced his retirement on Wednesday.

Taylor is no stranger to the P&G operation. He joined the company in 1980, and helped to build some of P&G's core businesses like Baby Care, Family Care, Hair Care and Home Care. Prior to becoming President and CEO in November 2015, Taylor served as group president of Global Beauty, Grooming and Health Care.

“A.G. was instrumental in leading our strategic, leadership and cultural transformation, rationalizing our portfolio, instituting a productivity mindset, and building our global leadership team” Taylor said in a statement.

Lafley first served as CEO from 2000 to 2009 before going into retirement. He returned as CEO in 2013.

Headquartered in Cincinnati, P&G is the world’s largest consumer products company. The company operates a logistics center in Union where more than 1,200 people work.