Bob McDonald, chief executive- designate of Procter & Gamble, yesterday stressed his intention to pursue growth in the developing world, vowing to win 1bn new consumers in untapped markets such as India and China over the next decade.

“We are going to focus even more on winning with consumers in emerging markets,” said Mr McDonald after he was named to succeed AG Lafley as chief executive of the consumer goods company on July 1.

“We are serving 3½bn people today . . . and I am confident we can reach at least another 1bn or more in the decade ahead.

“If, over time, we increase per capita consumption [of P&G products] in both China and India to the rate we see in Mexico, it would generate an incremental $40bn in annual sales,” he said. P&G's total sales in its current fiscal year are expected to be about $80bn.

Mr Lafley, 62, will continue as chairman. He expected to play an active role in management with Mr McDonald, with whom he has worked closely for a decade, participating in reviews of innovation, business organisation and talent development.

Mr Lafley is stepping down after nine years in which he overhauled P&G's introverted corporate culture, delivered steady earnings and organic sales growth and completed the $57bn acquisition of Gillette in 2005.

However, Wall Street analysts have become increasingly concerned that P&G has been losing market share to its competitors, in part due to the impact of the global recession on its more premium products.