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 revitalizepg.com. “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.

 

IN CONVERSATION WITH...

FORMULA FRIDAY

STREET TALK

60 SECOND PITCH

WELLNESS

FASHION

TRAVEL

PROFESSIONAL BEAUTY

TOP 50 BRANDS