01—Abstract
Summary
Summary of the 8-K filed January 12, 2022. Cited figures are marked; the original filing is the authoritative source.
Procter & Gamble (PG) announced a key leadership transition within its accounting function.
Michael G. Homan, Senior Vice President and Chief Accounting Officer, will retire effective July 31, 2022, after a distinguished 24-year career with the company. This change marks the end of a significant tenure for Mr. Homan.
In connection with Mr. Homan's upcoming retirement, the Board of Directors has appointed Matthew W. Janzaruk as the new Principal Accounting Officer and Senior Vice President – Chief Accounting Officer, effective March 1, 2022.
Mr. Janzaruk, who joined P&G in 2003, has a strong background in finance and accounting, having held various leadership roles, including his most recent position as Vice President – Finance & Accounting, Global Internal Audit. His compensation arrangements are expected to align with the company's standard executive programs.
02—Key points
Key Highlights
- Retirement of Senior Vice President – Chief Accounting Officer, Michael G. Homan, effective July 31, 2022, after 24 years of service.
- Appointment of Matthew W. Janzaruk as the new Principal Accounting Officer and Senior Vice President – Chief Accounting Officer.
- Mr. Janzaruk's appointment is effective March 1, 2022, allowing for a transition period.
- Mr. Janzaruk joined P&G in 2003 and has held progressive finance and accounting leadership roles.
- His prior role was Vice President – Finance & Accounting, Global Internal Audit since August 2016.
- Mr. Janzaruk's compensation will be consistent with his new role and company policy, as outlined in the proxy statement.
03—Questions
Frequently Asked Questions
Who is replacing Michael G. Homan as Chief Accounting Officer?
Matthew W. Janzaruk has been appointed as the new Principal Accounting Officer and Senior Vice President – Chief Accounting Officer.
When is the leadership transition effective?
Michael G. Homan's retirement is effective July 31, 2022. Matthew W. Janzaruk's appointment as the new Chief Accounting Officer is effective March 1, 2022.
What is Matthew W. Janzaruk's background at Procter & Gamble?
Mr. Janzaruk joined P&G in 2003 and has held several positions of increasing responsibility, including Vice President – Finance & Accounting, Global Internal Audit since August 2016, and Vice President, Finance & Accounting – Corporate Accounting prior to that.
Will Mr. Janzaruk's compensation change significantly?
Mr. Janzaruk will receive an annual base salary and equity grants under the Company's standard performance-based and long-term incentive programs, commensurate with his new position. His compensation details are consistent with similarly situated individuals and are outlined in the company's proxy statement.
04—Continue