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For his "Executive Decision" segment, Cramer sat down with David Taylor, chairman, president and CEO of Procter & Gamble Co. (PG) - Get Report , the storied consumer packaged goods giant that's currently in a proxy fight with activist investor Nelson Peltz.

Taylor explained that Procter & Gamble is a very different company than it was 10 years ago. He said they've refocused on growth and have realigned their product portfolio around 10 categories where superior products drive growth. Shares of P&G are up 37% over the past five years.

Procter & Gamble has also made changes to its international efforts, working hard to mitigate what were previously billions of dollars of foreign-exchange impacts to both their top and bottom lines.

Taylor said he's had multiple conversations with Peltz, and Procter & Gamble has already implemented many of the changes Peltz is advocating, including better execution and holding people accountable for that execution. He said, however, the last thing the company needs right now is a reorganization.

In the end, customers decide whether Procter & Gamble wins or not, Taylor said, and lately, they've been winning, even with the fickle millennial demographic.

Cramer asked whether Taylor found it odd that a company with 61 consecutive years of dividend increases would catch the eye of an activist investor. Taylor responded that they didn't ask for the proxy fight, and that the Procter & Gamble board already has 10 independent directors who are outstanding, and who have deep experience.

When asked why they chose to fight rather than to give Peltz a seat on their board, Taylor said that some of Peltz's ideas, like a reorganization, are not good for the company in the short term, while others, like reducing R&D spending, are not good over the long term.

Is Peltz a good candidate for the company's board? "Sure," Taylor said, "But good is not enough, we want the best."

Taylor explained that he works for all shareholders and not just activists who are looking for quick, short-term gains. Procter & Gamble and its board have done their homework, he added, and Peltz is not a good fit.

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