No apologies from Gillette's CEO

Moments after Gillette Co. shareholders voted overwhelmingly to approve the $57 billion sale of the Boston shaving firm to Procter & Gamble Co., Gillette chief executive James M. Kilts gave a wide-ranging interview on everything from his compensation to opportunities for the combined company.

Q. There's been a lot of criticism about your compensation package if this deal moves forward. What makes you worth $165 million?

My compensation has been a matter of public record since I joined the company back in 2001. The compensation is performance-based. We've turned the company around. We've created almost $20 billion of value. And I make no apologies about the compensation.

Q. You have agreed to remain at P&G, serving as vice chairman of the combined company and heading a Boston unit that will oversee the shaving business. Can you elaborate on that and what you might do after that?

I have no thoughts. I'm just anxious to get the deal closed and move forward. I'm a forward-looking person and what I see is the opportunity to build a great company, and my full efforts are going to be on building that great company over the next year.

Q. Massachusetts Secretary of State William F. Galvin has launched an investigation into the Gillette sale, questioning whether shareholders are getting a fair deal. Does this concern you and what do you think will come of it?

I have no particular comments on Mr. Galvin's investigation, other than to say that with 96 percent of the shareholders voting yes for the merger, I think you've heard what the shareholders have to say.

Q. There have been reports that P&G and Gillette may divest some toothpaste brands and battery-powered Crest Spinbrush toothbrush to avoid antitrust issues in Europe. Will the companies be selling off segments to satisfy regulators?

We don't want to comment on anything that would be speculative at this point in time. We have ongoing discussions with the appropriate regulatory authorities both in the United States and in Europe.

Q. P&G and Gillette have said the transaction will result in the loss of 6,000 jobs from the combined workforce of 140,000. Are there any updates on where these cuts might come from?

There's nothing new to report on that front. We still look at about 4 percent of the joint companies' workforce to be reduced.

Q. Are there any segments of either company that are less attractive and should be eliminated?

I don't want to speculate on that because we're just coming together. We've just got such great prospects. The success of this merger is going to be based on the growth opportunities we can create in the future.

And we think there are huge opportunities in the future, both in faster geographical expansion, more investment in growth and innovation, more distribution of our products across the world, and more innovation from a new product standpoint.

Q. Why didn't you hold what could be the last Gillette shareholder meeting in Boston?

We've held the meeting here [in Delaware], we've held it in Boston, we've held it in Rye, N.Y. We're a Delaware corporation. This is the final meeting, and we thought it was appropriate that we hold it in the state we were incorporated in.

Jenn Abelson can be reached at abelson@globe.com.