The CEO of Procter & Gamble’s (P&G) Specialty Beauty Division is stepping down from the company.
Colin Walsh has helmed the role since July 2023 and will exit the consumer goods giant behind Pampers, Olay and Head & Shoulders on 1 August, according to industry reports from the likes of WWD and Global Cosmetics News.
John Brownlee, P&G’s Senior VP of North America Hair Care, is reported as the person who will succeed Walsh while also remaining in his current position.
P&G’s Specialty Beauty Division was created in 2022 and comprises Mielle Organics, Ouai, First Aid Beauty, Farmacy and Tula Skincare.
Walsh was previously CEO of Ouai and hair care brand Deva Curl, and is also the co-founder of supplement business YayDay.
Following Walsh’s announcement, P&G has named Craig Arnold, former Chairman and CEO of power management company Eaton Corporation, as a new member of its board of directors.
Arnold is said to bring “significant experience” as CEO of a global enterprise serving businesses and customers in more than 175 countries.
"Craig’s depth of global experience, expertise managing diversified portfolios, and proven track record in innovation management and operational excellence will contribute valuable perspective to our efforts to better serve consumers and customers and grow markets," said Jon Moeller, P&G’s Chairman of the Board, President and CEO.
P&G is also gearing up to slash 7,000 jobs as part of a cost-cutting initiative to manage tariff pressure and global economic challenges.
The job cuts will affect non-manufacturing roles, and is a reduction of approximately 15% of its current workforce over the next two years.
In April, P&G warned of likely price hikes to manage the impact of US President Donald Trump’s trade tariffs.