As one of top brands in America, Procter & Gamble (P&G) will move the company’s beauty care business headquarter to the island state nation of Singapore soon. The maker of popular brands including CoverGirl, Olay, SK-II and Secret, will open its office in Singapore within the next two years. The main reason for the move is that Asian countries are now the biggest buyers of beauty care products such as makeup, skin-care products and deodorant.
The company also announced that Gina Drosos, the current CEO will retire after the Labor Day this year. Drosos has been picked by several business publications as one of the most powerful CEO in the planet. However, P&G will not short of leadership, as Deb Henretta will take offer the CEO. Henretta is now the company’s president for Asia operation.