As a giant in the FMCG industry, P&’s every move has influenced the choice of consumers and the trend of the industry. In order to maintain their profitability and competitive position, they attach great importance to strategic management. They had their best moments. In 2008, P&G became one of the world’s top 20 companies with net profits of $12 billion. Big acquisitions had allowed them to grow rapidly and continuously. However, in 2013, they began to decline. Declining sales have forced P&G to make strategic changes. In 2019, a piece of news about Procter & Gamble’s delisting from Euronext Paris swept the Internet. In order to explore how large enterprises make the right strategic choice in the face of crisis and analyze the outcomings, this paper will start with the delisting case of Procter & Gamble, analyze its strategic environment, strategic adjustments and financial results in recent years, and finally form conclusions and some suggestions.