Procter & Gamble: Trian asking for place on board.
(CercleFinance.com) - Trian Fund Management has accumulated approximately 3.
3 billion dollars worth of Procter & Gamble shares and is now asking the household products maker to add its founder Nelson Peltz to the company's board.
In a press release, the activist investor firm says it wants to help the company address the challenges it is facing after disappointing results and the share's underperformance over the past decade.
Saying that P&G's 10 billion dollar cost-cutting program, launched in 2012, has had "no discernible impact on profits or sales growth," Trian is requesting a seat on its board, citing Peltz's expertise and track record in driving long-term shareholder value.
Trian -- which says it strongly believes in P&G's potential -- says it is not advocating for the company's break-up or suggesting that the CEO be replaced, pointing out that P&G itself has identified up to 13 billion dollars in additional cost savings.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
3 billion dollars worth of Procter & Gamble shares and is now asking the household products maker to add its founder Nelson Peltz to the company's board.
In a press release, the activist investor firm says it wants to help the company address the challenges it is facing after disappointing results and the share's underperformance over the past decade.
Saying that P&G's 10 billion dollar cost-cutting program, launched in 2012, has had "no discernible impact on profits or sales growth," Trian is requesting a seat on its board, citing Peltz's expertise and track record in driving long-term shareholder value.
Trian -- which says it strongly believes in P&G's potential -- says it is not advocating for the company's break-up or suggesting that the CEO be replaced, pointing out that P&G itself has identified up to 13 billion dollars in additional cost savings.
Copyright (c) 2017 CercleFinance.com. All rights reserved.