That may be a good number relative to the market these days but I always thought P&G expected excellence. This indicates to me that the Board has become complacent and accepting of "average". AG's done a good job. He hasn't done a "3.5 million above average" job. Then again, look at the Board (AMEX, BA, INTU) - not a lot of stellar performers
It will be interesting to see how this special bonus payment plays out when the inevitable layoff announcements begin hitting the street in the next ??? months. My bet is before the next earnings call. He'll have to serve something up to placate the Street as they close a relatively weak year.
All this 'award' means is that they looked and saw they could steal another 3.5 mil and who's gonna stop them? This is what's putting this country in the mess it's in, and any argument that pensions for workers is doing it is bullshit! Funny but pensions for workers have been around for generations, this executive compensation only started about 10-20 yrs ago and it's taken this long for all the executives to become thieves.