John E. Pepper Jr, chairman of the Walt Disney Company and former CEO of Procter and Gamble, delivered a speech at the School of Economics and Management, Tsinghua University, on December 4, 2006.

Titled "What Really Matters", Pepper's talk focused onP&G's business philosophy, the company's success inChinaand Pepper’s personal growth in the consumer goods' giant. In his speech, Mr. Pepper emphasized the importance of innovation to the success of an enterprise. Mr. Pepper also shares P&G's experience on its success inChina. "The grand vision, willingness to take risk, persistence and partnership between co-workers", as he concluded, are believed to be the key factors that determine P&G's success.

After speech, Mr. Pepper answered questions from students and teachers attending the meeting including P&G's brand management，enterprises' social commitment and college student's career plan.

Mr. Pepper graduated fromYaleUniversityin 1960 and holds honorary doctoral degrees fromXavierUniversity,MountSt. JosephCollegeandSt. PetersburgUniversity(Russia). After service inU.S.navy for three years, Mr. Pepper began his career with Procter & Gamble in 1963 as a brand assistant. He served in various positions before he was named Chairman and Chief Executive Officer of Procter & Gamble in 1995. After retired from P&G in 2003, Mr. Pepper served as Vice President of Finance and Administration atYaleUniversityfrom January 2004 to December 2005. He will assume the chairmanship of Walt Disney Company onJanuary 1, 2007.