Procter & Gamble Co., owner of Boston-based Gillette, gave former CEO Bob McDonald a pay package worth $15.9 million during his final full year at the helm of the world’s largest consumer products maker, a 5 percent increase from the previous year.
McDonald’s retirement was announced abruptly in May, with the company facing pressure to improve its results. He was replaced by his predecessor A.G. Lafley, who was given a prorated pay package of $2 million the five weeks he served at the end of the company’s fiscal year, according to documents filed with the Securities and Exchange Commission.
McDonald’s pay bump was the result of a higher cash-based bonus of $3.3 million, which was up 36 percent from the previous year. His base salary of $1.6 million and stock awards of $6.4 million were unchanged. Full story for BostonGlobe.com subscribers.