Peltz to Depart P&G Board, Capping Nearly Four-Year Overhaul
- Billionaire joined consumer-goods company’s board in 2017
- Maker of Tide, Pampers has reorganized, boosted earnings
Nelson Peltz
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
Billionaire Nelson Peltz is retiring from Procter & Gamble Co.’s board after nearly four years and several dramatic changes to help improve performance at the consumer-goods giant.
Peltz, who co-founded and runs Trian Fund Management, told P&G he won’t stand for re-election at the 2021 shareholder meeting, according to a statement Thursday. Peltz was appointed to the board in December 2017 after a high-profile and costly proxy fight that P&G said it had won based on preliminary numbers before a recount said it hadn’t. The final certified results showed Peltz fell short of winning his seat, but the parties settled, and he was appointed to the board.