Procter & Gamble CEO David Taylor's Pay Totaled $14 Million Last Fiscal Year
August 26 2016 - 1:54PM
Dow Jones News
By Joshua Jamerson
The value of Procter & Gamble Co. Chief Executive David
Taylor's total pay more than doubled as he took the
consumer-product giant's helm late last year.
Mr. Taylor's compensation totaled $14.4 million, up from $6.1
million he received the previous year when he was head of the
company's beauty, grooming and health care businesses. Mr. Taylor
took over as CEO in November and his compensation for the last
fiscal year included a $2.5 million bonus and $8.5 million in stock
awards. Procter & Gamble last July disclosed Mr. Taylor would
get a $1.6 million salary for the top job when it announced the
succession plan.
Mr. Taylor's predecessor A.G. Lafley's pay for the last fiscal
year totaled $10 million.
Mr. Lafley served two stints as CEO of P&G, first from 2000
until he retired in early 2010 and then again from 2013 until Mr.
Taylor took over. The second term was marked by thousands of job
cuts and billions in announced divestitures.
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, edged down 0.7% to $87.28 in midday trading in
New York, has climbed 23% over the past 12 months.
Write to Joshua Jamerson at joshua.jamerson@wsj.com
(END) Dow Jones Newswires
August 26, 2016 13:39 ET (17:39 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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