Gorman to retire from P&G board

CINCINNATI Joseph Gorman announced last week that, in accordance with the company's customary retirement age for directors, he will retire from Procter & Gamble's board of direcetors effective October. Gorman, who has been a director since 1993, will turn 70 on Oct. 1.

Gorman is the retired chairman and chief executive of TRW, an automotive, aerospace and information systems company. He currently serves as chairman and ceo of Moxahela Enterprises LLC, a venture capital firm. He also serves as a director of Alcoa Inc., Imperial Chemical Industries plc, Tonsburg Magnesium Group International AB, and Vector Intersect Security Acquisition Corporation.