01—Abstract
Summary
Summary of the 8-K filed December 13, 2023. Cited figures are marked; the original filing is the authoritative source.
The Procter & Gamble Company (PG) filed an 8-K report on December 13, 2023, to announce a significant change to its Board of Directors.
Effective December 12, 2023, Ashley McEvoy, formerly the Executive Vice President, Worldwide Chairman of MedTech at Johnson & Johnson, has been appointed as a new Director. This appointment is intended to strengthen the board's expertise, particularly in areas relevant to innovation and leadership development, as Ms. McEvoy will serve on both the Compensation & Leadership Development and the Innovation & Technology Committees. Ms. McEvoy has been deemed independent by the Board, aligning with NYSE listing standards and the Company's guidelines.
Her compensation will be consistent with other non-employee directors, including a pro-rated equity grant reflecting her late-year appointment. This strategic addition to the board signifies P&G's ongoing commitment to robust governance and leveraging diverse executive experience to guide the company's future growth and strategic initiatives.
02—Key points
Key Highlights
- Appointment of Ashley McEvoy as a new independent Director to the Board, effective December 12, 2023.
- Ms. McEvoy brings extensive experience from her previous role as Executive Vice President, Worldwide Chairman of MedTech at Johnson & Johnson.
- Ms. McEvoy will serve on the Compensation & Leadership Development Committee.
- Ms. McEvoy will also serve on the Innovation & Technology Committee.
- The Board has determined Ms. McEvoy meets independence requirements under NYSE and Company guidelines.
- Ms. McEvoy will receive compensation aligned with other non-employee directors, including a pro-rated Restricted Stock Unit (RSU) grant.
03—Questions
Frequently Asked Questions
Who is Ashley McEvoy and why was she appointed to the board?
Ashley McEvoy was appointed as a new Director to Procter & Gamble's Board of Directors. She is a seasoned executive, having previously served as Executive Vice President, Worldwide Chairman of MedTech at Johnson & Johnson. Her appointment is intended to bring valuable industry expertise to the board, particularly in areas of innovation and leadership development, as she will serve on related committees.
Is Ms. McEvoy considered an independent director?
Yes, the Board of Directors has determined that Ms. McEvoy is independent under the NYSE listing standards and the Company’s own Independence Guidelines.
How will Ms. McEvoy be compensated for her role as a director?
Ms. McEvoy will receive the same compensation as other non-employee members of the Board of Directors. This includes a pro-rated annual Restricted Stock Unit (RSU) grant, which will reflect her appointment date in December.
Which board committees will Ms. McEvoy be a part of?
Ms. McEvoy has been appointed to serve on two key committees: the Compensation & Leadership Development Committee and the Innovation & Technology Committee.
04—Continue