Ex-Procter & Gamble Exec Joins CD&R

NEW YORK (Reuters) – Former Procter & Gamble Co (PG.N) Chief Executive A.G. Lafley has joined private equity firm Clayton, Dubilier & Rice as a special partner, the private equity company said in a statement on Wednesday.

Clayton, Dubilier & Rice is a more than 30-year-old private equity firm based in London and New York.

Lafley, who spent 32 years at Procter & Gamble, said in December he would retire as Chairman of the company in early 2010. Bob McDonald succeeded Lafley as chief executive and chairman of Procter & Gamble.

(Reporting by Elinor Comlay; Editing by Valerie Lee)