Stengel stepping down at P&G

Procter & Gamble's global marketing chief Jim Stengel is stepping down unexpectedly to pursue other interests. He’ll be succeeded next month by Marc Pritchard, P&G President of strategy, productivity and growth. Needless to say, P&G is the world's biggest advertiser, spending about $8 billion a year world wide. The big question is whether Pritchard will accelerate the shift of ad dollars to digital media from traditional media.

“P&G -- which pioneered television advertising -- has lagged in the shift to digital marketing. That has been a missed opportunity for P&G, analysts say,” said a WSJ story.