THE WHAT? The CEO of Procter & Gamble, Jon Moeller was awarded a 44 percent increase in his total pay package after a year in the role, according to a report published by the Cincinnati Business Courier.
THE DETAILS Moeller’s total compensation was reported as US$17.7 million in the fiscal year to June 30, 2022, a considerable jump on the US$12.2 awarded in the prior-year period. Moeller took on the top job on November 1, 2021.
THE WHY? Moeller’s bonus and stock awards accounted for the lion’s share of the increase and, no wonder; the company saw sales rise 7 percent in fiscal 2021-22 and P&G determines compensation against both short-term and long-term metrics.