THE WHAT? The CEO of Procter & Gamble, David Taylor, saw his total compensation climb 12 percent last year to US$22.9 million, according to a report published by the Cincinnati Enquirer, quoting federal disclosures.
THE DETAILS That sum is made up of US$1.7 million in take-home pay (+3 percent yoy), US$6 million in a bonus (+11 percent yoy), US$14.6 million in stock and option awards (+11 percent) and the equivalent of US$511,000 in job-related perks (+22 percent).
THE WHY? Taylor’s pay is commensurate with the US FMCG giant’s latest set of results, which saw earnings climb 8 percent and sales rise 5 percent despite the context of the Covideconomy. It’s also consistent with the continual rise in executive pay, which has soared 940 percent over the last 40 years. However, with redundancies rife and forced pay cuts common, such a steep rise isn’t the greatest PR story. Is executive pay due a rethink?