Some of the largest consumer staples ETFs should be in focus Friday after Dow component Procter & Gamble (NYSE: PG), the world’s largest consumer products company, announced that former CEO A.G. Lafley is returning in that capacity. Lafley, who is replacing the retiring Bob McDonald, will also be P&G’s chairman and president.
McDonald is retiring from the Ohio-based company on June 30, 2013, after 33 years of service.
“A.G.’s track record and his depth of experience at P&G make him uniquely qualified to lead the Company forward at this important time. The Board expects A.G. to further improve results, implement the current productivity plan, and facilitate an ongoing succession process. The Board is confident that he will continue improving P&G’s performance,” said Jim McNerney, presiding director of P&G’s Board, in a statement.
Pleasantries aside, investors in ETFs tracking consumer staples, until recently one of this year’s best-performing sectors, will want to know how Lafley’s return will impact shares of P&G. The simple reason is that P&G is often the largest or one of the largest holdings in staples ETFs. [Defensive Staples ETFs For Yield]