Edwin L. Artzt: 1990-95. Succeeded John Smale as chairman-CEO in January 1990 and oversaw a massive first-of-its-kind-for-P&G restructuring that eliminated several levels in the hierarchy as well as thousands of employees. His departure in June 1995 ended the longest tenure of a P&G CEO in the 1990s.
John Pepper: 1995-99. Succeeded Mr. Artzt in 1995, edging out rival and Artzt protege Durk Jager, who still wielded considerable power as P&G's first president-chief operating officer during Mr. Pepper's tenure. Mr. Pepper was better liked within P&G than Messrs. Artzt or Jager, but sales growth was sluggish on his watch. He stepped down unexpectedly as CEO in January 1999 and chairman six month later, allowing Mr. Jager to preside over yet another restructuring -- Organization 2005.
Durk Jager: 1999-2000. Putting a new emphasis on speedy global rollouts, new brands and "stretch" goals, Mr. Jager became CEO in January 1999 and chairman six months later. But his tenure would be cut short in June 2000, after P&G missed earnings targets for two quarters and its stock tumbled 50%.
A.G. Lafley: 2000-?. As Mr. Pepper resumed the title of chairman in June, Mr. Lafley became CEO at least five years ahead of when most observers expected. One of the few senior managers viewed as a protege of both Messrs. Pepper and Jager, he's vowed to seek "balance" for P&G, too, focusing marketing resources and product innovation on 10 $1 billion-plus core brands and key new brands as he reviews projects launched under Mr. Jager.