Nelson Peltz, CEO and founding partner of Trian Fund Management, L.P., will not stand for re-election as a member of the Proctor & Gamble Company board of directors.
Peltz will retire from the Company’s Board of Directors when his term expires at the 2021 Annual Meeting of Shareholders. He’s served on the board since 2018, as part of the Governance & Public Responsibility and Innovation & Technology Committees.
Nelson Peltz, CEO and founding partner of Trian Fund Management, “P&G has created tremendous value for all stakeholders since 2017. As a large shareholder of Procter & Gamble, Trian remains highly confident in P&G’s continued success given its focused strategies, disciplined execution, accountability-driven organization structure and an extremely strong management team. Under David Taylor’s leadership and the stewardship of the P&G Board, Trian believes the company is well positioned for continued, future success as David passes the baton to Jon Moeller.”
David S. Taylor, chairman of the board, president and CEO of P&G, said, “From day one, Nelson has been a focused, collaborative member of P&G’s Board. Working in concert, Nelson and the Board have constructively provided perspective and expertise to help me and P&G’s senior leaders navigate a challenging external environment and maintain a long-term competitive advantage for the benefit of many stakeholders. I’m grateful for his service and the collaborative partnership we’ve developed over the past few years and wish Nelson and the Trian team the best in future endeavors.”