by Christopher Freeburn | August 27, 2012 12:00 pm
Procter & Gamble‘s (NYSE:PG) CEO saw his total compensation fall this year due to the company’s sluggish performance.
Robert McDonald received 6.1% less in total compensation on lower stock options and a smaller bonus, Dow Jones noted.
Still, he will be paid $15.2 million for fiscal 2012. That includes $1.6 million in actual annual salary, a $2.4 million bonus, $10.9 million in stock and options, plus $313 million in other benefits, including use of the consumer product giant’s corporate jets.
P&G earnings per share slid 1% compared to last year, falling well short of growth goals of between 5% an 10%.
Company officials have blamed the lower-than-expected results on rising commodity costs and a continuing strong U.S. dollar, which negatively affects overseas sales.
Shares of P&G are up just 5.3%, compared to a 15.3% gain for the Dow Jones Industrial Average, during the past twelve months. The company’s shares rose fractionally in Monday morning trading, above $67 a share.
The company’s weak stock price will hurt McDonald’s long-term bonuses. He receives the first payment from that program next year.
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