"In one instance, for example, the Tide brand came to the rescue after a fiery explosion during the Dayton 500 covered the Speedway with 200 gallons of burning fuel. TV viewers watched track workers using Tide to clean the track during a two-hour delay in the Great American Race. Corporate Governance is the interaction of the management, shareholders and Board of Directors to help ensure that all investors—both shareholders and creditors—are protected against managers acting solely in their own best interest. Corporate Governance consists of laws, policies, procedures and, most importantly, practices that ensure the well-being of the assets of the Company. Corporate Governance is at its highest levels when management acts as if they are long-term investors in the Company.The policies, procedures and practices spelled out in this section demonstrate that Procter & Gamble takes Corporate Governance very seriously. Our management acts as long-term investors of the Company because they, like most Procter & Gamble employees at all levels, are in fact long-term investors.
Employees Are Long-Term Investors
In 1887, before P&G was even a publicly traded company, William Cooper Procter introduced a profit-sharing program for employees. At the time he