Procter & Gamble CEO Taylor Compensation Soars to $14 Million
August 26 2016 - 10:20AM
Dow Jones News
The value of Procter & Gamble Co. Chief Executive David
Taylor's total pay more than doubled in the latest year, bolstered
by stock awards and bonuses as profit at the consumer-products
giant has climbed despite falling sales.
Mr. Taylor's compensation totaled $14.4 million, up from $6.1
million a year ago. His bonus increased to $2.5 million, up from
$790,272 a year ago, and his base salary rose 47% to $1.4
million.
Though the company has struggled to return to pre-recession
growth levels and earlier this month it forecast another year of
sluggish sales, Mr. Taylor has worked to cut costs, which has he
argued will enable the company to invest more in new products and
advertising, thus lifting sales.
As part of Mr. Taylor's compensation, he also received $8.5
million in stock awards, compared with $2.7 million last year.
These awards include the company's profit-sharing and primary
retirement program.
The maker of Tide and Pampers has taken heat from Wall Street
for driving profitability through trimming costs rather than
gaining sales; Mr. Taylor has argued the savings and sales growth
go hand in hand. Amid the cost cutting, P&G has been raising
prices for staple products, such as shaving cream and paper
towels.
P&G stock, inactive in premarket trading, has climbed 24%
over the past 12 months.
Write to Joshua Jamerson at joshua.jamerson@wsj.com
(END) Dow Jones Newswires
August 26, 2016 10:05 ET (14:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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