Missing a few teeth?
The proxy that P&G filed late yesterday was missing quite a bit of information, particularly when it came to executive compensation and perks. Are we really to believe that P&G number crunchers are still trying to figure out exactly how much they paid outgoing vice chairman Jim Kilts? Perhaps it’s the cost of his company-paid apartment that is throwing them off. Kilts, you may recall, received a very lucrative retirement package when P&G bought Gilette last year. Even odder is that though the company does provide the salary for Chairman and CEO A.G. Lafley in the compensation committee report (it was $1.7 million last year) that number is missing in the summary comp table.
One group the company did provide total comp for is the 12 non-employee directors, each of whom received over $200K a year for what can charitably be called a part-time job.
P.S. The folks at my hosting company seem to have finally figured out the email alerts. Thanks to everyone for hanging in there.
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July 31st, 2006 at 1:00 pm
Jim Kilts has served as vice chairman of The Procter & Gamble Company since 2005. He also served as chairman, chief executive officer and president of The Gillette Company from 2003 until its merger with The Procter & Gamble Company.