Bob McDonald has announced that he will retire from his position as CEO of Procter & Gamble, leaving the company in the hands of former CEO A.G. Lafley, who had chosen McDonald to succeed him about four years ago. "Bob chose to retire. This was his decision. ... The board is confident A.G. is the right leader to build on P&G's momentum and to continue to improve our results," said P&G rep Jennifer Chelune.