FRAMINGHAM (05/02/2000) - Procter & Gamble Co. today promoted 51-year-old Steve David to the position of CIO, effective July 1, said company spokeswoman Gretchen Briscoe.
David, the company's global customer business development officer, has worked his way up through the ranks at Procter & Gamble for the last 30 years. He will be in charge of the company's computer systems and developing its online business-to-business opportunities, Briscoe said. He takes over for Todd Garrett, who retired in December.
Getting its online operations in sync and working well is crucial to Procter & Gamble's long-term health, said William Steele, managing director at Banc of America.
"Gains from the Internet are going to give them a leg up on their competitors," Steele said.
Steele said Procter & Gamble has been undergoing a transitional period in the company's history and has to come out with a more efficient operation in order to thrive. Share prices have lost half their value during the past six months, Steele said. Building a more efficient operation means not only capitalizing on its good relationship with major retailers, but also working backward to Procter & Gamble's own vendors, Steele said.
Briscoe said that in addition to working at Procter & Gamble, David sits on several industry panels aimed at standardizing the business-to-business marketplace.
"We're working to help the industry communicate more effectively," Briscoe said.