Aug 5 (Reuters) – Procter & Gamble Co mentioned on Thursday activist investor Nelson Peltz would step down from the corporate’s board on the finish of his time period later this 12 months.
The patron items big appointed the founding father of Trian Fund Administration to its board in 2018, following a bitter months-long proxy combat – the largest ever involving a U.S. firm on the time.
In the course of the combat, the hedge fund supervisor had advocated for a break-up of the corporate and even a shift out of its Cincinnati headquarters, each points that he later relented on.
Trian has bought a few of its stake in P&G since 2017.
“P&G has created great worth for all stakeholders since 2017,” Peltz mentioned in a press release on Thursday.
Reporting by Uday Sampath in Bengaluru; Modifying by Maju Samuel