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P&G Announces Salaries, Bonuses

Published August 30, 2004
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Procter & Gamble, Cincinnati, announced that A.G. Lafley, chairman, president and chief executiveofficer, earned a base salary of $1.7 million this year and received other compensation, including a$3.5 million bonus. Mr. Lafley chose to receive his $3.5 million bonus as stock options. Mr. Lafleyreceived a $3 million bonus last year.

P&G executives said Mr. Lafley also earned $9.86 million, or 68% of the total three-year awardunder a business growth program.

In a new three-year program that began July 1, Mr. Lafley could receive up to $11.22 million thatwould be paid in restricted stock units. He also received stock options. P&G executives said morethan 90% of Mr. Lafley's total compensation is at-risk, based on the company's performance.

P&G's profit rose 25% in its fiscal year ended June 30. Unit volume grew 17% and net sales grew19% to $51.41 billion.

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