P&G CEO Jon Moeller gets 23% raise (2024)

Procter & Gamble CEO Jon Moeller got a23% raise last year, boosting his total compensation to $21.7 million, new federal disclosures say.

The Cincinnati-based consumer products giant paid its top executive an extra $4 million, mostly in additional stock.

At least on paper, P&G's median employee, however, didn't appear to fare as well, earning an annual $64,024 in pay – down 8%, or more than $5,600, from the previous year when the median worker made $69,671.

The company noted, however, the unidentified worker that was the median-paid employee is located overseas and the same worker as the previous year. That employee actually got a raise in euros. P&G disclosed that worker's pay was only lower when converted to dollars in the proxy as the euro declined in value relative to the U.S. dollar. Only 27% of P&G workers are located in the U.S.

Like many major corporations, P&G pays senior executives a mix of cash and stock as well as some perks. Here's a breakdown:

• Moeller's salary rose 9.1%, or more than $133,000, to $1.6 million.
• His bonus hit $4.7 million, up 19%, or more than $750,000 in cash.
• Moeller got $15 million in stock and option awards, an increase of almost 25% or $3 million.
• He also got more than $406,000 in other compensation, up 63% or $157,000. Those perks included: nearly $233,000 worth of personal use of a company jet (the company's security policy requires the CEO fly only on P&G aircraft); almost $54,000 for home security and monitoring services; nearly $75,000 of retirement plan contributions; $26,000 in group life insurance; and nearly $6,000 worth of flexible compensation contributions.

The pay disclosures come after P&G reported last month it booked a nearly $14.7 billion profit on total sales of $82 billion during the fiscal year ended June 30. Its annual profit slipped slightly despite climbing total sales as the company grappled with higher commodity prices.

The maker ofTide detergentandPampers diapersemploys 10,000 workers in Greater Cincinnati and107,000 worldwide.

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