8-KLeadership ChangesRegulation FDExhibits & Filings

PROCTER & GAMBLE Co 8-K Report, Executive Changes (Dec 9, 2020)

Filed December 9, 2020For Securities:PG

Summary

The Procter & Gamble Company (PG) announced a significant executive leadership change effective March 1, 2021. Andre Schulten, currently Senior Vice President of Baby Care, North America, has been appointed as the new Chief Financial Officer (CFO). This appointment signifies an internal promotion for Mr. Schulten, who has been with the company since 1996 and has held various senior finance and operational roles across different segments and geographies. His progression through leadership positions demonstrates a deep understanding of the company's financial structure and business operations. This transition involves current Vice Chairman, COO, and CFO, Jon Moeller, who will retain his Vice Chairman and COO titles, but relinquish the CFO responsibilities. This change in CFO is a key development for investors to monitor as it may influence the company's financial strategies and reporting. Mr. Schulten's compensation package has been detailed, including a base salary of $750,000, a target bonus of 110% of his base salary, and equity grants commensurate with his new executive role.

Key Highlights

  • 1Appointment of Andre Schulten as the new Chief Financial Officer (CFO), effective March 1, 2021.
  • 2Jon Moeller will transition from CFO to Vice Chairman and Chief Operating Officer, retaining key operational leadership roles.
  • 3Andre Schulten has a long tenure with P&G, joining in 1996 and progressing through various senior finance and operational leadership positions.
  • 4Mr. Schulten's new compensation package includes a base salary of $750,000, with a target annual bonus of 110% of base salary.
  • 5He will also receive equity grants under the company's long-term incentive program, aligning his compensation with other executive officers.
  • 6The company issued a press release on December 9, 2020, detailing these executive changes.
  • 7This filing is made under Item 5.02 (Departure/Election of Officers) and Item 7.01 (Regulation FD Disclosure) of the 8-K.

Frequently Asked Questions

Andre Schulten has been elected as the new Chief Financial Officer (CFO) of The Procter & Gamble Company, effective March 1, 2021.

Jon Moeller, the current Vice Chairman, Chief Operating Officer, and Chief Financial Officer, will remain as Vice Chairman and Chief Operating Officer, stepping down from his CFO duties.

Andre Schulten joined Procter & Gamble in 1996 and has held several senior positions, including Senior Vice President of Finance & Accounting for Western Europe and Global Baby Care, Feminine Care, and Family Care, and most recently, Senior Vice President of Baby Care, North America.

Effective March 1, 2021, Andre Schulten will receive an annual base salary of $750,000, a target bonus of 110% of his base salary, and equity grants commensurate with his position, similar to other executive officers. He will also participate in other executive compensation and benefit programs.