By Joshua Jamerson 

The value of Procter & Gamble Co. Chief Executive David Taylor's total pay more than doubled as he took the consumer-product giant's helm late last year.

Mr. Taylor's compensation totaled $14.4 million, up from $6.1 million he received the previous year when he was head of the company's beauty, grooming and health care businesses. Mr. Taylor took over as CEO in November and his compensation for the last fiscal year included a $2.5 million bonus and $8.5 million in stock awards. Procter & Gamble last July disclosed Mr. Taylor would get a $1.6 million salary for the top job when it announced the succession plan.

Mr. Taylor's predecessor A.G. Lafley's pay for the last fiscal year totaled $10 million.

Mr. Lafley served two stints as CEO of P&G, first from 2000 until he retired in early 2010 and then again from 2013 until Mr. Taylor took over. The second term was marked by thousands of job cuts and billions in announced divestitures.

The maker of Tide and Pampers has taken heat from Wall Street for driving profitability through trimming costs rather than gaining sales; Mr. Taylor has argued the savings and sales growth go hand in hand. Amid the cost-cutting, P&G has been raising prices for staple products, such as shaving cream and paper towels.

P&G stock, edged down 0.7% to $87.28 in midday trading in New York, has climbed 23% over the past 12 months.

Write to Joshua Jamerson at joshua.jamerson@wsj.com

 

(END) Dow Jones Newswires

August 26, 2016 13:39 ET (17:39 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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