Taylor’s appointment is effective Nov. 1, and on the same day Lafley will become executive chairman of the board, P&G said in a statement. P&G has been struggling with sluggish sales due to “choppy” growth in developed markets, tough competition and a strong dollar. To rejuvenate growth, P&G has been streamlining its business and earlier this month said it would sell more than 40 brands to perfume maker Coty Inc for $12.5 billion to narrow its focus on fewer, faster-growing brands such as Tide and Gillette.