Cincinnati-based consumer goods giant Procter & Gamble (P&G) has elected A.G. Lafley, 54, currently president and CEO, chairman of the board effective 1 July, in addition to his current responsibilities.  This is in anticipation of the retirement of Company Chairman John E. Pepper on 1 July,  after 38 years of service. Pepper will remain a director of the company and will continue as chairman of the board's executive committee for an additional year.