Procter & Gamble hiked ex-CEO’s pay to $15.9M for last year

NEW YORK • Procter & Gamble Co. gave former CEO Bob McDonald a pay package worth $15.9 million during his final full year at the helm of the world’s largest consumer products maker, representing a 5 percent increase from the previous year. McDonald’s retirement was announced abruptly in May, with the company facing pressure to improve its results. He was replaced by his predecessor A.G. Lafley, who was given a prorated pay package of $2 million the five weeks he served at the end of the company’...

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