Company News, People News

Here’s a Raise… And, um, You’re Fired!

P&G's ex-CEO got a boost in pay before getting canned.

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By: TOM BRANNA

Editor

Sometimes good isn't good enough—especially when a key stockholder is miffed. Procter & Gamble Co paid Bob McDonald, its former chairman, president and chief executive who abruptly left last spring, nearly 5% more last year as the company's performance improved. McDonald was replaced in P&G's top spot on May 23 by his predecessor, A.G. Lafley. While McDonald's departure was termed a retirement, many saw the change as confirmation that his tenure was a disappointme...

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