Summary
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.
Key Highlights
- 1Appointment of Ashley McEvoy as a new independent Director to the Board, effective December 12, 2023.
- 2Ms. McEvoy brings extensive experience from her previous role as Executive Vice President, Worldwide Chairman of MedTech at Johnson & Johnson.
- 3Ms. McEvoy will serve on the Compensation & Leadership Development Committee.
- 4Ms. McEvoy will also serve on the Innovation & Technology Committee.
- 5The Board has determined Ms. McEvoy meets independence requirements under NYSE and Company guidelines.
- 6Ms. McEvoy will receive compensation aligned with other non-employee directors, including a pro-rated Restricted Stock Unit (RSU) grant.