It's hard to find fault with Lafley's turnaround of P&G. Net income surged 18% in 2003 and has risen an average 21.2% annually in the three years he has been CEO. Revenue was boosted 12% last year by strong sales across existing product lines, such as Tide, Pampers, and Crest, and by the acquisition of hair-care company Wella. That is part of Lafley's plan to move Cincinnati's P&G into higher-margin businesses, such as beauty and pharmaceuticals. But P&G is having difficulty on one front: Its Clairol hair-color business is being out-maneuvered by French rival L'OrŽal.