P&G’s 2016 Annual Report was issued today at www.pg.com.
In his letter to shareholders, Chairman, President and CEO David Taylor discusses how Fiscal 2016 was a year of progress in our journey to return P&G’s results to a balance of top-line growth, bottom-line growth and cash generation. We increased investments in innovation, advertising and sales coverage to enhance our long-term prospects for faster, sustainable sales growth. We stabilized top-line growth rates in several key markets. We delivered another strong year of productivity improvement and cost savings. And we made significant steps in our portfolio transformation.
David shares that we made progress in a challenging environment, but we know we need to do better. We are focused on streamlining and strengthening our product portfolio, improving productivity and our cost structure, building the foundation for stronger top-line growth, and strengthening our organization and culture. These are the choices we’re focused on to raise the bar on P&G’s performance to consistently deliver balanced growth and leadership value creation.