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Share Name Share Symbol Market Type
Procter and Gamble Co NYSE:PG NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  -0.14 -0.09% 149.02 150.36 148.57 149.53 2,068,460 16:32:40

P&G Europe President Says Company's Supply Chain Needs to Diversify From China

23/05/2022 11:20am

Dow Jones News


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By Jing Yang

 

Procter & Gamble Co. is looking at re-regionalizing its supply chain and making more than 90% of goods sold in Europe produced in Europe, P&G Europe President Loic Tassel said at the World Economic Forum in Davos on Monday.

"The price to pay, the time to wait to get some of our products from China to Europe is not compatible anymore with our industry that's called FMCG (fast-moving consumer goods). F stands for fast. If your container is stuck in Shanghai, it is not fast moving anymore," he said

He added that he sees this as a trend lasting beyond the next wave of the Covid-19 crisis "till the end of this decade."

 

Write to Jing Yang at Jing.Yang@wsj.com

 

(END) Dow Jones Newswires

May 23, 2022 06:05 ET (10:05 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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