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Former CEO To Resume His Post At Procter & Gamble

Published May 24, 2013 at 4:00 AM EDT

RENEE MONTAGNE, HOST:

NPR's business news starts with a comeback.

(SOUNDBITE OF MUSIC)

MONTAGNE: Procter & Gamble made a surprise announcement last night. It's bringing back its former CEO as the company's new CEO. A.G. Lafley will replace Bob McDonald. Procter & Gamble is behind names like Crest toothpaste and Tide laundry detergent. The 170-year-old company has been struggling to grow in emerging markets. Transcript provided by NPR, Copyright NPR.