P&G Appoints Nelson Peltz of Trian Partners to Board of Directors
December 15 2017 - 5:15PM
Business Wire
The Procter & Gamble Company (NYSE:PG) today announced that
it has appointed Nelson Peltz, Chief Executive Officer and a
founding partner of Trian Fund Management, L.P., to its Board of
Directors, effective March 1, 2018. The Company has also committed
to re-nominate Mr. Peltz to the Board as part of the Company’s
slate of nominees for the 2018 Annual Meeting of Shareholders.
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Nelson Peltz, Chief Executive Officer and
a founding partner of Trian Fund Management, L.P., is appointed to
P&G’s Board of Directors, effective March 1, 2018. (Photo:
Business Wire)
Mr. Peltz has been Chief Executive Officer of Trian Fund
Management, L.P. since it was founded in November 2005. Mr. Peltz
also serves as the non-executive Chairman of The Wendy’s Company.
He is currently a director of Mondelēz International, Inc., Sysco
Corporation, and The Madison Square Garden Company, and has
previously served as a director of H. J. Heinz Company, Legg Mason,
Inc., and Ingersoll-Rand plc.
“We respect Nelson Peltz as a highly engaged shareowner and
investor, and look forward to his contributions as a member of
P&G’s Board,” said David S. Taylor, P&G’s Chairman,
President and Chief Executive Officer. “We have had constructive
discussions with Nelson and we are committed to working together
for the best interests of all P&G shareholders.”
“P&G is on the right track with its transformation,” said
Lead Director Jim McNerney. “Nelson Peltz has more than 40 years of
business and investment experience, and we welcome his input and
the additional perspective he will bring to the boardroom.”
“P&G is a great company with tremendous potential,” said
Nelson Peltz. “I am looking forward to working closely with David
Taylor and the Board toward our shared goals of driving market
share growth and improved margins to create more value for all
P&G shareholders.”
From April 1993 through June 2007, Mr. Peltz served as Chairman
and Chief Executive Officer of Triarc Companies, Inc. which during
that period of time owned Arby's Restaurant Group, Inc. and the
Snapple Beverage Group, as well as other consumer and industrial
businesses. Mr. Peltz was Chairman and Chief Executive Officer and
a Director of Triangle Industries, Inc. from 1983 until December
1988, the largest packaging company in the world and a Fortune 100
industrial company, when that company was acquired by Pechiney,
S.A., a leading international metals and packaging company. Mr.
Peltz began his business career in 1963 when he joined his family
food business.
About Procter & Gamble
P&G serves consumers around the world with one of the
strongest portfolios of trusted, quality, leadership brands,
including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®,
Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head &
Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®,
Tide®, Vicks®, and Whisper®. The P&G community includes
operations in approximately 70 countries worldwide. Please visit
http://www.pg.com for the latest news and information about P&G
and its brands.
About Trian Fund Management, L.P.
Founded in 2005 by Nelson Peltz, Ed Garden and Peter May, Trian
seeks to invest in high quality but undervalued public companies
and to work constructively with the management and boards of those
companies to significantly enhance shareholder value for all
shareholders through a combination of improved operational
execution, strategic redirection, more efficient capital allocation
and increased focus.
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version on businesswire.com: http://www.businesswire.com/news/home/20171215005847/en/
P&G Media Contact:Damon Jones,
513-983-0190jones.dd@pg.comorP&G Investor Relations
Contact:John Chevalier,
513-983-9974chevalier.jt@pg.comorTrian Media/Investor
Contact:Anne A. Tarbell,
212-451-3030atarbell@trianpartners.com
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