Proctor and Gamble 2011 Annual Report Download - page 3

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Dear Shareholders,
Last year, I described P&G’s Purpose-inspired Growth Strategy, which is to
touch and improve more consumers’ lives in more parts of the world more
completely. I told you that we intend to deliver total shareholder return
that consistently ranks P&G among the top third of our peers —the best-
performing consumer products companies in the world. To do this, we
must deliver the Company’s long-term annual growth goals, which are to:
ōGrow organic sales 1% to 2% faster than
market growth in the categories and countries
where we compete
ōDeliver core earnings per share (core EPS) growth
of high single to low double digits
ōGenerate free cash flow productivity of
90% or greater
Robert A. McDonald
Chairman of the Board, President and
Chief Executive Officer