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Lafley’s Bonus Cut As P&G Sales Fall

Annual award drops to $3.29 million.

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By: Jamie Matusow

Editor-in-Chief

Still not a bad bonus by any stretch of the imagination—but lagging sales at the world’s largest consumer products company caused a cutback in salary bonuses. Chief executive A.G. Lafley, who’s scheduled to leave office in November following his second run at P&G’s helm, received a smaller bonus of $3.29 million for the fiscal year ended in June, down from $4.4 million a year earlier. In total, the CEO received total compensation of $18.3 million in the year ended in June, a 6.2% decrease from his $19.5 million the previous year.
 
According to P&G, Lafley received only 66% of his target bonus as the company did not reach its profit and sales goals.
 
P&G reported net income of $7 billion for the year ended June 30, down 40% from the previous year. Sales dropped 5% to $76.3 billion, due mostly to weakened foreign currencies. 

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