And yet, this company, the model of stability and predictability now had suddenly has had two of its last CEOs removed, and brought Lafley back out of retirement to run the company again.
The merits and drawbacks of league and team stability via the North American model can be debated versus the ruthless competition and elevated levels of player compensation and debt found in European soccer leagues.
Is it any wonder that investors (and managements) all crave some kind of macro and micro stability, where spreadsheets made some sense and you could model industries and their major constituents with comfort and accuracy?
Issuers prefer staleness for "stability's" sake, and rating agencies are happy to stick with a business model that relies on infrequent rating revisions to minimize costs.