Proctor and Gamble wants 1 billion more customers - KWWL - Eastern Iowa Breaking News, Weather, Closings

Proctor and Gamble wants 1 billion more customers

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CINCINNATI (AP) -- The Procter & Gamble Co.'s new CEO wants to fire up growth by adding a billion new customers around the globe over the next five years.

P&G veteran Bob McDonald spoke with shareholders Tuesday in the first annual meeting since he moved up from chief operating officer on July 1 with sales down as households cut spending in the recession. McDonald says P&G reaches about 4 billion people now, but is focusing on getting more people to buy more products such as Pampers diapers and Gillette shavers in emerging markets, led by China and India.

P&G officials said recently they expect sales to start coming back this fall. P&G stock has been climbing back after sliding to $43.93 in March, but was down 54 cents at $56.96 Tuesday morning.

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