P&G: Nelson Peltz of Trian not elected to the board.
(CercleFinance.com) - Activist investor Nelson Peltz has not been elected to Procter & Gamble's board, dealing a blow to an eight-month effort to drive changes at the consumer goods giant.
After disclosing a 1.5% stake in February, the founder of the Trian investment fund said in July that he wanted to help the company address the challenges it is facing after disappointing results and the share's underperformance over the past decade.
Tuesday's early results hand a victory to P&G's management team, who were massively against Nelson Peltz's nomination.
Based on a preliminary vote count following the company's annual meeting of shareholders, shareholders have voted to elect all 11 of P&G's directors to the board.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
After disclosing a 1.5% stake in February, the founder of the Trian investment fund said in July that he wanted to help the company address the challenges it is facing after disappointing results and the share's underperformance over the past decade.
Tuesday's early results hand a victory to P&G's management team, who were massively against Nelson Peltz's nomination.
Based on a preliminary vote count following the company's annual meeting of shareholders, shareholders have voted to elect all 11 of P&G's directors to the board.
Copyright (c) 2017 CercleFinance.com. All rights reserved.