Procter & Gamble global marketing officer James Stengel is to retire after 25 years with the company.

Succeeding Stengel, who will retire at the end of October, is Marc Pritchard, currently president of strategy, productivity and growth at the US consumer goods giant. 

Pritchard's position will become effective 1 August when he will begin the period of transition until Stengel's retirement date.

"Jim Stengel has reinvigorated P&G's marketing function and strengthened P&G's capability as one of the world's leading brand builders," said A.G. Lafley, P&G's chairman of the board and CEO. "Jim has helped change the way P&G markets our brands by challenging traditional marketing models and setting new standards for P&G marketing rooted in deep consumer understanding."

On Pritchard's appointment, Lafley said: "Marc Pritchard is the right leader at the right time to take P&G marketing into the future. He's a committed brand-builder with more than 25 years experience and a proven track-record of leadership results."