This excerpt taken from the PG DEF 14A filed Aug 28, 2007.
Since its founding in 1837, the Company has prospered through changing economic cycles and huge social and political changes. Our focus throughout this time has not changed: we provide branded products that improve the lives of the worlds consumers. The management and employees of the Company pursue this mission knowing that our investors have entrusted us to continue the Companys long-standing record of creating and marketing excellent, branded products that can generate sustainable profits over time.
The Company management and the Board of Directors are stewards of our resources and reputation. Our goal is to generate sustainable, industry-leading investment returns. Most of our executives have spent the majority of their professional careers here. This experience strengthens our connection to our consumers, retail customers, suppliers, investors and employees. Various programs throughout the Company, including our compensation system, recognize the importance of this stewardship. Leadership is critical to achieving our short-term and long-term goals. This Compensation Discussion and Analysis explains the principles, objectives and features of our executive compensation programs and shows how the compensation of our leaders aligns with our corporate objectives.
This excerpt taken from the PG DEF 14A filed Aug 30, 2005.
The Compensation & Leadership Development Committee of the Board of Directors is responsible for ensuring that the Companys executive compensation policies, practices and systems are competitive and reflect the long-term interests of shareholders. None of us has been an officer or recent employee of the Company, and each of us is considered independent for purposes of applicable New York Stock Exchange listing standards as well as the Independence Guidelines. You can learn more about the Committees purpose, responsibilities, structure and other details by reading the Committees charter and the Companys Committee Charter Appendix which can be found in the corporate governance section of the Companys corporate website, www.pg.com.
We are also responsible for reporting on the Companys executive compensation each year, as part of the annual proxy statement. This Report explains: