The Procter & Gamble Company (PG) AGM 2026 summary

Opening remarks and agenda

• Meeting called to order with quorum present; polls opened, and shareholders were directed to vote on six items of business.

• Shareholders could submit meeting-related questions online; similar questions could be grouped, and unanswered properly submitted questions would receive a direct response.

Financial performance review

• FY2026 total net sales grew 3%; organic sales grew 1% after a 2% foreign-exchange impact.

• Diluted EPS was $6.62 vs. $6.51 in FY2025; Core EPS was $6.89 vs. $6.83, up 1% and flat YoY on a currency-neutral basis.

• Operating cash flow was $19.556B and capital spending was $4.409B; adjusted free cash flow was $15.835B, excluding $688M in 2017 U.S. Tax Act payments, with 100% productivity against adjusted net earnings of $15.883B.

• Organic sales growth improved sequentially from 1 point in H1 to 2 points in H2; nine of 10 categories and all regions held or grew sales.

• Twenty-six of the top 50 category-country combinations and five of 10 categories held or grew share; global value and volume share trends improved in H2, exiting roughly flat.

Board and executive committee updates

• Debra L. Lee is retiring and not standing for re-election after six years on the Board; 12 director nominees were proposed for one-year terms through the 2027 AGM.

• Board size is 12 within a permitted range of 10–15; seven directors have joined over the past four years.

• Directors were described as bringing diverse leadership experience; Board refreshment reviews directors’ capacity to devote sufficient time to their duties.