P&G board dissatisfied with CEO

Procter & Gamble Co. board members are dissatisfied with Chief Executive Officer Robert McDonald's performance and are discussing a leadership change, people familiar with the situation told Bloomberg News.

The board's discussions in part coincide with activist investor William Ackman taking a stake in Cincinnati-based P&G. Mr. McDonald, 59, has been CEO for about three years and came under fire from analysts this year when P&G lost market share.