Business

P&G hiked ex-CEO’s pay to $15.9M for last year

NEW YORK — Procter & Gamble Co., owner of Boston-based Gillette, gave former chief executive Bob McDonald a pay package worth $15.9 million during his final full year at the world’s largest consumer products maker, for a 5 percent increase from the previous year.

His retirement was announced in May, with the company facing pressure to improve its results. He was replaced by A.G. Lafley.

Advertisement

McDonald’s pay bump was the result of a higher cash-based bonus of $3.3 million, up 36 percent from the previous year. His base salary of $1.6 million and stock awards of $6.4 million were unchanged. Stock options were valued at $4.2 million, a 4 percent decline. Other compensation rose 7 percent to $332,877.

Associated Press

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com