PROCTER & Gamble Co. chief execu- tive officer Robert McDonald has been elected chairman, succeeding A.G. Lafley, who plans to retire early next year.P&G said recently that Lafley, 62, is slated to step down from the chairman's role on January 1 and to retire from the company on February 25.The 56-year-old McDonald, who also holds the title of president, will take over the chairman's duties on January 1, the consumer products giant said.
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