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Copy of Procter and Gamble M&A Gillette
Transcript of Copy of Procter and Gamble M&A Gillette
Adrien TILHET PRAT Procter & Gamble welcoming Gillette A.G Lafley: CEO of Procter & Gamble
Jim Kilts: CEO of Gilette
“The P&G culture is more collaborative, open, and competitive than you may know it to be”
“They are not necessary”
RAJA GUPTA How did Lafley build trust with Kilts? P&G PROMISED TO DELIVER $1.0 TO $1.2 BILLION in cost synergies by year three
THEY WILL CUT JOBS FROM THE TWO COMPANIES : 5,000 to 6,000 of the total 140,000 jobs
They also committed to OBTAINING $750 MILLION IN REVENUE SYNERGIES by year three
They Called it a merger not an acquisition How did P&G managers try to do the same with members of Gillette Organization?
« There was excitement »
“we are joining a tremendous partner to create the best consumer products company in the world”
Gillette employee still wondered How would P&G integrate Gilette’s businesses into P&G’s business units Were they successful? Did Gillette trust P&G? Lafley wanted to use Gillette to create the "best consumer products company in the world".
Create a joint Global Integration STEERING COMMITTEE What sequence of actions did he take to initiate systematic change? Difficulties in communication: differences in interpretation
Strong commitment of P&G towards Gilette which led to anxiety among P&G employees
Hard adaptation for both P&G and Gilette employees
P&G employees were feeling left aside
A huge merger Vulnerabilities of P&G Integration Planning Clear explaination of the cultures and values of P&G and Gilette
Creation of a new culture?
Continue to integrate Gilette manager into P&G teams
Create team synergies (eg. Renault & Nissan merger) What should change, remain the same or be added after the change of control? Emphasis on Gilette’s know-how
Gilette alliance with P&G was essential to create « the best consumer company in the world »
Clean & transition planning teams
Create new teams by integrating Gilette’s employees to P&G teams Social integration mechanisms What were the operational integration mechanisms? Integration tools and mechanisms Communication
Building and Sustaining Trust
Counseling Human resources and integration Conclusion and Recommendation