US’ P&G shareholders elect all 14 director nominees

The Procter & Gamble Company (P&G) has announced that at its 2023 annual meeting of shareholders, Brett Biggs, former executive vice president and chief financial officer of Walmart, was newly elected to its board of directors, effective immediately. P&G shareholders elected all 14 P&G director nominees, including Biggs and 13 incumbent directors, with each receiving strong shareholder support according to preliminary voting results.

P&G’s board is made up of skilled and experienced leaders who provide expert guidance and oversight informed by their unique personal and professional backgrounds. The elected directors are diverse across gender, race and ethnicity with a mix of tenure, age and industry experience, the company said in a press release.

P&G’s newest board member Brett Biggs is the former executive vice president and chief financial officer of Walmart, a role he held from 2016 until 2022.

“Brett brings to P&G significant insight 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,” said Jon Moeller, P&G’s chairman of the board, president and chief executive officer. “His experience will lend critical perspective on the challenges and opportunities facing multinational companies, as well as important digital and corporate governance insights from having served as a key leader during Walmart’s transition from traditional brick and mortar to broader omni-channel retail operations. We’re delighted to welcome him to the P&G board.”

Biggs served as the chief financial officer of Walmart International from 2014 to 2016 and of Walmart US from 2012 to 2014. He also served as senior vice president of operations for Sam’s Club from 2010 to 2012.

Company shareholders also voted in favour of three board proposals to ratify the appointment of P&G’s independent registered public accounting firm, for an advisory vote on executive compensation and for an advisory vote on the frequency of future executive compensation votes. Shareholders voted against three shareholder proposals requesting a civil rights audit, an annual report on operations in China and a requirement for shareholder approval for certain future amendments to company regulations.