CINCINNATI (AP) — Procter & Gamble Co. CEO Bob McDonald's pay jumped to $16.2 million in his second year at the helm of the world's largest consumer products maker.
A regulatory filing shows McDonald's total compensation rose 23 percent, up from $13.1 million. McDonald is also chairman of the Cincinnati-based maker of Pampers diapers, Crest toothpaste and Gillette shavers.
P&G sales increased 5 percent for the year to $82.6 billion, and profits reached company targets. Some 90 percent of McDonald's pay is tied to performance. His salary is $1.6 million.
P&G says McDonald's percentage increase over last year was inflated by the way long-term bonuses have been granted and a change in how they are reported.
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