Trian nominates Peltz to Procter & Gamble board

Trian nominates Peltz to Procter & Gamble board

Trian Fund has launched a proxy fight against Procter & Gamble. The activist investor has nominated its CEO, Nelson Peltz, to the P&G board.

“Trian believes the job of a highly engaged shareholder in the boardroom is to foster a true sense of ownership among directors and inspire the board to take decisive and timely action to create sustainable and long-term value for both the company and its shareholders,” said Peltz in a statement published on Trian site “As a member of the board, it would be my goal to help improve performance by increasing sales and profits and regaining lost market share. I also believe the board must address the company’s structure and culture. I can add far more value operating within the P&G boardroom than by merely looking in from the outside.”

According to Reuters, P&G is strongly opposed to the move, issuing a statement backing its board and strategic plan. The company’s AGM is scheduled for October.