08.30.16
Procter & Gamble has had a rough go of it in recent years, not so its CEO and other top executives. Former CEO Bob McDonald was the fall guy a few years ago when sales and earnings started to crater, so the company brought back AG Lafley who tried to lead a turnaround before departing last year. Now, new CEO David Taylor is trying to turn the Tide, not to mention Olay, Gain and dozens of other brands. For all his efforts, Taylor is handsomely rewarded. Investors? Not so much!
Taylor received $14.4 million in compensation in the recently ended fiscal 2015-16 year, more than doubling his pay from the previous year when he was a global president at P&G. Taylor earned $6.1 million in fiscal 2014-15 as group president for Global Beauty, Grooming and Health Care at of the Cincinnati-based maker of consumer products, so his new role as chief executive boosted his total compensation by 136%, according to company reports and an article in the Cincinnati Business Courier. In fiscal 2014-15, Lafley's compensation topped $18 million.
Other executives and their 2015-16 compensation figures include:
CFO Jon Moeller, $6.8 million, down 3%;
Group President Martin Riant (retired), $7.5 million, up 8%;
Group President Giovani Ciserani, $6.8 million, down 3.6%;
Group President Patrice Louvet, $5.3 million (previous compensation not released);
Group President Steve Bishop, $4.5 million (previous compensation not released).
In good times, investors will let pay packages slide, but with its stock underperforming the market for years, P&G executives must make good on their turnaround pledge to warrant these compensation numbers.
Taylor received $14.4 million in compensation in the recently ended fiscal 2015-16 year, more than doubling his pay from the previous year when he was a global president at P&G. Taylor earned $6.1 million in fiscal 2014-15 as group president for Global Beauty, Grooming and Health Care at of the Cincinnati-based maker of consumer products, so his new role as chief executive boosted his total compensation by 136%, according to company reports and an article in the Cincinnati Business Courier. In fiscal 2014-15, Lafley's compensation topped $18 million.
Other executives and their 2015-16 compensation figures include:
CFO Jon Moeller, $6.8 million, down 3%;
Group President Martin Riant (retired), $7.5 million, up 8%;
Group President Giovani Ciserani, $6.8 million, down 3.6%;
Group President Patrice Louvet, $5.3 million (previous compensation not released);
Group President Steve Bishop, $4.5 million (previous compensation not released).
In good times, investors will let pay packages slide, but with its stock underperforming the market for years, P&G executives must make good on their turnaround pledge to warrant these compensation numbers.