Moeller, 56, will retain his role as vice chairman and chief operating officer, the Pampers diapers and Gillette shaving products maker said.

Schulten, 50, who joined P&G in 1996, was previously senior vice president of finance & accounting for the company's global Baby Care, Feminine Care, and Family Care unit and before that for Western Europe.

"Andre is well equipped to take on this role, with a distinguished career in Finance & Accounting as well as critical business leadership recently leading North America Baby Care," Chief Executive Officer David Taylor said in a statement.

Schulten will receive an annual base salary of $750,000 in his new role along with equity grants and other executive incentives.

Moeller, P&G's finance chief since 2009, will be tasked with leading its enterprise markets unit, which contributes about 10% to total revenue, and handles go-to-market activities for business units in some of the company's smaller markets.

The company's shares were down 1% at $136.51 in morning trading.

(Reporting by Siddharth Cavale in Bengaluru; Editing by Shounak Dasgupta and Sriraj Kalluvila)