Last week, Procter & Gamble (NYSE:PG) jettisoned CEO Bob McDonald -- just as he seemed to be getting some traction in turning P&G around. But will the company's new chief executive officer fare any better?

Listen in as Fool contributor Rich Smith explains why former CEO Alan Lafley's triumphant return to P&G could be very good news indeed for the stock, but also warns of one huge risk factor to watch.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Procter & Gamble. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.