Trian’s Peltz seeks a seat on board at Procter & Gamble
NEW YORK — Activist investor Nelson Peltz is attempting to secure a seat on the board at Procter & Gamble board member, seeking faster changes at the consumer products company.
Peltz’s Trian Fund Management LP, which owns about $3.3 billion worth of shares at Procter & Gamble, said Monday that it’s interested in helping Procter & Gamble improve its performance, saying that its financial performance over the last 10 years has been disappointing. The company’s sales have declined over the last three years.
Trian said that it’s not looking to break up P&G or replace CEO David Taylor or remove other board members.
The Procter & Gamble Co., based in Cincinnati, said in a release that it’s maintained an active dialogue with Trian, but that it’s sticking with strategy.