Procter & Gamble CEO Taylor Compensation Soars to $14 Million

By Joshua Jamerson 

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 [e-mail]

(END) Dow Jones Newswires

August 26, 2016 09:42 ET (13:42 GMT)

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