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Business > Business News & Issues Procter and Gamble's financial revival

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Procter & Gamble, the venerable consumer goods company famous for Crest(TM) toothpaste, Charmin(TM) bath tissue, Tide(TM) laundry detergent and Pringles(TM) potato snacks, got a frightening wake up call in 2000. Their R&D productivity had leveled off and the fraction of new products meeting financial objectives had stagnated at 35%. They were being squeezed by nimble competitors and lackluster new launches, and were missing quarterly earnings goals. Ultimately, P&G saw its stock plunge from $118 per share to $52 per share, a loss of more than half of its market capitalization (1).

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