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A Timeline of Procter and Gamble

Page history last edited by Ginny Walters 14 years ago

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A Company History of P&G and P&G's Involvement with the Cincinnati Stock Exchange

 

 

1837 – As a result of their father-in-law’s suggestion, William Procter and James Gamble become business partners. Their total assets were $7,192.24.

 

 

**1858 – Cincinnati Stock Exchange opens.

 

1859 – P&G sales reach $1 million

 

1879 – James Norris Gamble, son of the founder and a trained chemist, develops Ivory Soap.

 

1882 – Harley Procter convinces the partners to allocate $11,000 to advertise Ivory Soap nationally.

 

**1885 – CSE was reorganized and reactivated after the Civil War, during which it was closed.

 

1890 – The partners incorporate. William Alexander Procter, son of the founder, is named the first president.

 

**1892 – Employee stock purchase program was inaugurated.

 

1895 – King Camp Gillette invents the first safety razor.

 

1900 – Net earnings reached $1 million.

 

1901 – American Safety Razor Company, which later becomes the Gillette Co., forms in Boston, MA.

 

**April 30, 1901 – P&G became listed on the CSE.

 

1907 – William Cooper Procter becomes president, following the death of his father.

 

1911 – P&G introduces Crisco, the first all-vegetable shortening.

 

1915 – P&G becomes an international company, building its first factory outside of the U.S.A., in Canada.

 

1926 – P&G produces Camay, a perfumed beauty soap.

 

 

**1929 – CSE Board Meeting Minutes show that because of a change in the classification of stock, P&G needed to fill out another application to remain on the CSE. They did so, and the stock was approved for listing. There was no additional lifting fee for P&G because they were listed prior to January 27, 1927.

 

1930 – William Cooper Procter turns the reins of the company over to Richard R. Deupree.

 

1931 – P&G begins to focus on brand management.

 

1933 – Dreft, the first synthetic detergent developed for household use, is introduced.

 

1934 – William Cooper Procter dies; P&G enters the hair business with Drene, the first detergent-based shampoo.

 

1935 – P&G expands its international presence with the acquisition of the Philippine Manufacturing Company, its first operations in the Far East.

 

1937 – P&G turns 100. Sales reach $230 million.

 

1946 – Tide is introduced. It is the country’s leading laundry product by 1950.

 

1948 – Niel H. McElroy assumes leadership of P&G.

 

1950 – The first subsidiary on the South American continent is established in Venezuela.

 

1955 – Crest is introduced.

 

1956 – The new General Office opens up in downtown Cincinnati.

 

1957 – P&G acquired Charmin Paper Mills, entering the consumer paper products business; Howard J. Morgens takes over company leadership when Neil McElroy leaves to serve as U.S. Secretary of Defense.

 

1960 – P&G opens its first office in Frankfurt, Germany; the company introduces liquid Downy, the company’s first fabric softener.

 

1963 – P&G acquires Folgers.

 

1965 – The first paper plant built by P&G opens in Mehoopany, PA.

 

1967 – Ariel, a global laundry brand, is introduced; Braun, established in 1921, is acquired by Gillette.

 

1968 – Pringle’s is introduced.

 

**1971 – Board meeting minutes show that a special Board of Trustees meeting was called on January 6 to consider the application of P&G to list 800,000 additional shares common stock, No Par, on the CSE. The Board gave approval to this request.

 

1972 – Bounce combines softening agents with a nonwoven sheet to soften clothes in the dryer. Bounce becomes the second largest selling fabric softener after Downy.

 

1973 – P&G begins manufacturing and selling their products in Japan through the acquisition of The Nippon Sunhorne Company. The new company is called P&G Sunhome Co. Ltd.

 

1974 – Ed Harness is elected to head the company.

 

1978 – Didronel, a treatment for Paget’s disease, is introduced. It’s one of the company’s first pharmaceutical products.

 

1980 – Sales reach $10 billion.

 

1981 – John G. Smale becomes head of P&G.

 

1982 – P&G acquires Norwich Eaton Pharmaceuticals.

 

1983 – The company introduces Always/Whisper.

 

1984 – Gillette acquires Oral B. 

 

1985 – P&G acquires Richardson-Vicks, owners of Vicks respiratory care and Oil of Olay product lines; General Offices Tower building opens in Cincinnati, OH.

 

1986 – Ultra Pampers and Luvs Super Baby Pants are introduced. Pert Plus/Rejoice is introduced.

 

1987 – P&G turns 150; acquires Blendax in Europe.

 

1988 – P&G announces a joint venture to manufacture products in China.

 

1989 – P&G acquires Noxell and its Cover Girl and Noxzema products.

 

1990 – Edwin L. Artzt is named to lead P&G; P&G acquires Old Spice.

 

1991 – P&G acquires Max Factor and Betrix. P&G opens its first operation in Eastern Europe with the acquisition of Rakon in Czechoslovakia.

 

1992 – P&G receives the World Environment Center Gold Medal for International Corporate Environmental Achievement; Pantene Pro-V is introduced, and it quickly becomes the fastest growing shampoo in the world.

 

1993 – Company sales exceed $30 billion; 50% of sales come from outside the U.S. for the first time in P&G history; Japan Headquarters and Technical Center opens on Rokko Island in Kobe City, Japan.

 

1994 – P&G acquires VP Schickedanz, a German-based company; P&G adds Giorgio Beverly Hills to its fine fragrance business; the company re-enters the S. African market after the lifting of U.S. sanctions against investment in S. Africa; U.S. Dept. of Labor gives P&G the Opportunity 2000 Award for instituting equal employment opportunities and creating a diverse work force.

 

1995 – John E. Pepper becomes Chairman and CEO; Durk I. Jager becomes President and COO; P&G is awarded the National Medal of Technology, the highest award the United States bestows for achievement and technology; P&G opens its Health Care Research Center in Cincinnati.

 

1996 – U.S. FDA grants approval for Olestra in salty snacks and crackers; P&G acquires Baby Fresh, a U.S. baby wipes brand; Gillette acquires Duracell.

 

1997 – P&G introduces Tampax.

 

1998 – Mach 3 razor, Febreze, Dryel and Swiffer are introduced.

 

1999 – Durk Jager becomes Chairman of the Board and Chief Executive; P&G acquires Iams pet food and Recovery Engineering, Inc.

 

2000- A.G. Lafley becomes President and CEO; U.S. FDA approves Actonel.

 

2001 – Crest WhiteStrips is introduced; P&G acquires Clairol business from Bristol-Myers Squibb Co.

 

2002 – A. G. Lafley is elected Chairman of the Board; Bruce Byrnes and R. Kerry Clark are elected Vice-Chairman of the Board; ThermaCare HeatWraps are introduced.

 

2003 – FDA approves switching Prilosec from a prescription to an over-the-counter product; P&G acquires controlling interest in Wella AG, a leading hair care company.

 

2004 – P&G’s Childrens Safe Drinking Water Program wins the World Business Award from the UN Development Program & International Chamber of Commerce; Actonel becomes a billion dollar brand, P&G’s first pharmaceutical brand to reach this milestone.

 

2005 – P&G and Gillette merge into one company.

 

P&G currently employs 140,000 people in 80 countries.

 

 

Sources

 

"A Company History." 2006. PDF file.

 

Board of Trustees Meeting Minutes. Cincinnati Stock Exchange. 19 August 1929.

 

Board of Trustees Meeting Minutes. Cincinnati Stock Exchange. 6 January 1971.

 

Dyer, Davis, and Frederick Dalzell and Rowena Olegario. Rising Tide: Lessons from 165 Years of Brand Building at Procter & Gamble. Boston: Harvard Business School Press, 2004. Print.

 

"Our History - How It Began." PDF file.

 

Here's another video if you want to check it out:

History of Procter & Gamble.mp4

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