Home > Former P&G chief executive received $US15.9 million pay package

Former P&G chief executive received $US15.9 million pay package

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Former Procter & Gamble (P&G) chief executive Bob McDonald received a pay package worth $US15.9 million ($A17.74 million) in his last year in charge of the company.

AAP reports that this figure represented a five per cent increase from the previous year and reflected the company’s improved performance compared to the previous year.

According to Reuters, the maker of Tide detergent and Crest toothpaste either met or exceeded targets that were factored into McDonald's compensation package. Fiscal 2013 core earnings per share rose 5 percent, exceeding the company's forecast of a decline of 1 percent to an increase of 4 percent.

In addition, free cash flow was above target and organic sales went up by 3 percent. This was in line with forecast of between 2 and 4 percent. Organic sales exclude the impact of acquisitions, divestitures and foreign exchange.

The figure includes salary, bonuses, perks and stock and options which McDonald received.
In May McDonald’s retirement was announced and he was replaced by his predecessor A.G. Lafley.

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