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Nelson Peltz's P&G Board Seat Bid Came Up Less Than 1% Short
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Trian Fund Management’s Nelson Peltz came within 6.2 million votes of being elected to the board of Procter & Gamble Co., losing by less than 1 percent to former Mexican President Ernesto Zedillo, according to a preliminary vote count released by the company Monday.
While a little more than 6 million votes may seem like a lot, P&G has about 2.55 billion shares outstanding, according to data compiled by Bloomberg. The billionaire investor contends that he deserves a seat on the board regardless of the outcome of the vote.