Former U.S. Sen. Robert Portman lands a new post on P&G's board

Alexander Coolidge, Cincinnati Enquirer
Updated ·2 min read
  • Oops!
    Something went wrong.
    Please try again later.

Procter & Gamble has appointed former U.S. Sen. Rob Portman to its board of directors, the company announced Tuesday.

The Cincinnati-based consumer products giant also appointed Sheila Bonini, senior vice president of the World Wildlife Fund. The appointments are effective immediately.

The maker of Tide laundry detergent and Gillette razor blades welcomed the addition of Portman's public service, including stints as President Bush's Trade Representative, to its board. P&G CEO Jon Moeller said he'd make "an excellent advisor" on the panel that steers the company's strategy and long-term vision.

P&G, which is subject to intense environmental scrutiny, said Bonini would be a strong addition to the board. Bonini has a top executive since 2016 at the World Wildlife Fund, a leading global conservation organization.

“Rob’s track record ... equip(s) him to be an excellent advisor as we navigate the complexities of our global business,” Moeller said, in a statement.

“Sheila is an expert, innovator and thought leader... (she) will further strengthen our ability to innovate and serve consumers with superior and more sustainable solutions,” Moeller added.

The new faces to the board come after some noteworthy departures: former P&G CEO David Taylor and former eBay CEO Meg Whitman stepped down last year.

Former U.S. Sen. Rob Portman speaks in January 2023 during an event along the Ohio River in Covington, Kentucky.
Former U.S. Sen. Rob Portman speaks in January 2023 during an event along the Ohio River in Covington, Kentucky.

In other news, P&G announced Tuesday it will boost its quarterly dividend payment 3% to more than 94 cents per share.

The new shareholder payout will be made on or after May 15, to stockholders of record at the close of business on April 21. The quarterly payout is increasing 2.74 cents per share from 91.33 to 94.07 cents per share.

The 2023 increase – P&G's 67th straight annual dividend boost – is the smallest since 2017. With the increase, an investor with 1,000 shares of P&G will receive an annual payout of nearly $3,800.

Procter & Gamble is based in downtown Cincinnati.
Procter & Gamble is based in downtown Cincinnati.

For the latest on P&G, Kroger, Fifth Third Bank and Cincinnati business, follow @alexcoolidge on Twitter.

This article originally appeared on Cincinnati Enquirer: P&G taps former Sen. Rob Portman, nonprofit exec for board seats