P&G president/CEO Bob McDonald outlines company plans at AGM

McDonald claimed that Procter & Gamble served about four billion consumers globally but aimed to reach around five billion in the next five years. "Our choices are a natural evolution of the strategies that have been working for nearly a decade," he said.

"We will grow leading, global brands and core categories. We will build our business with under-served and un-served consumers and we will continue to develop faster growing, structurally attractive business with global leadership potential."

He said that the company would not only focus on growing geographically but would also broaden its product portfolio.

Finally, McDonald paid tribute to the company's former president/CEO and current chairman, AG Lafley. "When he took over the helm, P&G's market capitalization was about US$74 billion - 35th in the Fortune 500. P&G stock has appreciated approximiately 100 per cent since then and today the company's market capitalisation is about $170 billion, making P&G one of the most valuable companies in the world'.