## Management Changes 

## John Pepper Retires 

On July 1, 2002, John Pepper retired as chairman after 39 years of service with P&G. Mr. Pepper will continue as chairman of the Board’s Executive Committee until July 1, 2003. 

Mr. Pepper served as the ninth Chairman of the Board and Chief Executive from July 1995 through September 1999, when he retired. He was re-elected chairman of the Board of Directors, in addition to his role as chairman of the Executive Committee of the Board, in June 2000. 

To honor Mr. Pepper’s life-long commitment to teaching and learning, and his devotion to developing P&G people, the Company’s new corporate training center at the General Office in Cincinnati has been named “The John Pepper Learning Center.” 

“John Pepper is the heart and soul of P&G – the living embodiment of our Purpose, Values and Principles,” A.G. Lafley told employees at Mr. Pepper’s retirement reception. “We are eternally grateful for his enormous personal and professional contributions.” 

## Bruce Byrnes and Kerry Clark Named Vice-Chairmen 

Bruce Byrnes, President, Global Beauty & Feminine Care and Global Health Care, and Kerry Clark, President, Global Market Development & Business Operations, were named vice-chairmen of the Board of Directors and directors of the Company, effective July 1, 2002. Mr. Byrnes and Mr. Clark bring great breadth of business expertise and knowledge to their new roles, along with proven track records of results. 

