Harvard Business Review

SEPTEMBER 26, 2011

When he spoke only rarely about shareholder value and only then as utterly derivative of P&G's performance on winning the consumer value equation and building powerful brands, P&G employees came to appreciate that while he cared about shareholder value, he saw it is an output of the things he aspired for P&G not a singular and direct goal.

TSR 14

TSR CEO Short-term Long-term 14

CO2

APRIL 1, 2022

greater annualized total shareholder return (TSR) 7.7% Many corporate visions also don’t provide a clear way to know if you’ve reached your goal because they lack tangible metrics. For example, high purpose companies experience: 14.1% greater revenue growth 34.7% But it also impacts your business’s performance.

Mission Statement 78

Mission Statement Leadership Organization Core Competence 78

CO2

APRIL 1, 2022

greater annualized total shareholder return (TSR). Many corporate visions also don’t provide a clear way to know if you’ve reached your goal because they lack tangible metrics. Ambitious and include a daunting goal. For example, high purpose companies experience: 14.1% greater revenue growth. higher operating profitability.

Mission Statement 78

Mission Statement Leadership Organization Core Competence 78

Harvard Business Review

OCTOBER 3, 2011

We found that investors voted "no" on Say on Pay for four primary reasons: A disconnect between pay and performance (92 percent), with performance generally defined as relative and absolute Total Shareholder Return (TSR) over one, three, and five years; or financial performance, such as revenue and earnings growth, over multi-year timeframes.

TSR 9

TSR White Paper Long-term Short-term 9