Jim Stengel stepped down as chief marketing officer at Proctor and Gamble, the world’s largest consumer good firm and the world’s largest advertiser.

“Being global marketing officer at P&G is like being a manager without portfolio — lots of responsibility and not much authority.” Dave Hardie, Managing Director, Herbert Mines Associates, a management recruitment firm | Wall St. Journal 16 July 2008

“Under Mr. Stengel, P&G has gradually increased its spending on digital media around the world, such as … beinggirl.com social networking site. But the company has also responded to the decline of in TV audiences in the US with an increased focus on in-store marketing, and traditional newspaper inserts featuring money-off coupons … [His replacement, Marc Pritchard, formerly president of strategy, productivity, and growth in P&G] has worked alongside Mr. Stengel over the past two year to create “new brand franchise leaders” to oversee all aspects of marketing and development of new brands.” Jonathan Birchall, journalist | Financial Times 16 July 2008