Unilever appoints activist investor Nelson Peltz to its board

Nelson Peltz speaking at the Delivering Alpha 2019 conference in New York on September 19, 2019.

Adam Jeffrey | CNBC

Unilever named Nelson Peltz a board member on Tuesday as it engages in strategy talks with the American activist investor who now owns a roughly 1.5% stake in the property giant. consumption.

London-listed Unilever said Peltz would join as a non-executive director from July and sit on the board’s compensation committee.

The company said Peltz’s hedge fund, Trian Fund Management, manages funds with interests in around 37.4 million Unilever shares, or 1.5% of the UK company.

“We look forward to working collaboratively with management and the board to help drive Unilever’s strategy, operations, sustainability and shareholder value,” Peltz said in a statement.

His appointment comes months after news broke that he had acquired a stake in Unilever, whose strategy was under scrutiny this year after a short-lived lawsuit by GSK’s consumer healthcare arm.

“We have had extensive and constructive discussions with him and the Trian team and believe Nelson’s experience in the global consumer goods industry will be valuable to Unilever,” said Unilever Chairman Nils Anderson.

The unsuccessful pursuit of GSK’s £50 billion ($63 billion) consumer health business had raised questions about Unilever’s plans under CEO Alan Jope.

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