Procter & Gamble announces Brett Biggs as new member of its board of directors

At the 2023 Annual Meeting of Shareholders, the Procter & Gamble Company unveiled an important addition to its Board of Directors. Brett Biggs, former executive vice president and chief financial officer of Walmart, Inc. was selected to join the board effective immediately. This election came as part of the shareholder vote, where all 14 director nominees, including Biggs, received strong support.

P&G’s Board of Directors is noted for its diverse and qualified experience, ensuring strong guidance and oversight. The newly elected directors present variability in terms of gender, race and experience, which reinforces diversity on the board.

Jon Moeller, P&G Chairman of the Board and Chief Executive Officer, noted “Brett brings to P&G significant knowledge from his experience with a major multinational retailer and expertise related to public company financial matters, including accounting and financial reporting, tax, treasury and capital strategy.” In addition, “His experience will provide a critical perspective on the challenges and opportunities facing multinational companies, as well as important corporate governance and digital insights from serving as a key leader during Walmart’s transition from traditional physical operations to broader omnichannel retail operations. We are delighted to welcome him to the P&G board,” commented Moeller.

With a career spanning more than 20 years, Brett Biggs, served as chief financial officer of Walmart International from 2014 to 2016 and Walmart US from 2012 to 2014. In addition, he played a significant role as senior vice president of operations for Sam’s Club from 2010 to 2012.

In addition to his career in the private sector, Biggs has contributed to the community and society in his role as a senior advisor to Blackstone. He also serves on the boards of renowned companies, including Adobe, Inc. and YUM! Brands, Inc. His commitment to humanitarian work is reflected in his participation on the Board of Governors of the American Red Cross, the Board of Regents of Pepperdine University and the Board of Directors of the National Urban League.

KEY DECISIONS AT THE P&G MEETING

At the Procter & Gamble Company’s (P&G) most recent Annual Meeting, several key proposals were put to a vote. Shareholders supported three key proposals: ratification of the appointment of P&G’s independent registered public accounting firm, an advisory vote on executive compensation, and an advisory vote on the frequency of future votes on executive compensation. However, three shareholder proposals were rejected, including a civil rights audit, an annual report on China operations, and a shareholder approval requirement for certain future amendments to the Company’s bylaws.

It is important to note that these preliminary voting results have yet to be tabulated and certified by an independent Election Inspector. The final results will be communicated subsequently through a Form 8-K filed with the U.S. Securities and Exchange Commission, and will be available at www.pginvestor.com ,  www.sec.gov.

In addition to the decisions made by shareholders, P&G’s Board of Directors announced the declaration of a quarterly dividend of $0.9407 per share. This dividend will be effective October 15, 2023 and will benefit common stock shareholders of record at the close of business on October 20, 2023, as well as Class A Series A and Series B Convertible ESOP preferred stock shareholders of record at the start of business on October 20, 2023.

The dividend declaration reinforces P&G’s historical commitment to its shareholders, as it has maintained an uninterrupted dividend payment for 133 years since its founding in 1890, also demonstrating a dividend increase for 67 consecutive years.