THE WHAT? Unilever has announced the appointment of notorious activist investor, Nelson Peltz, as Non-Executive Director and as a member of its compensation committee, effective July 20, 2022 subject to regulatory approvals.
THE DETAILS The Trian Fund CEO and Founding Partner has previously served on the boards of Procter & Gamble and Mondelez, among others. Trian manages funds which hold interests in 37.4 million ordinary shares of Unilever.
“I am delighted to be joining the Board of Unilever” commented Peltz. “We believe it is a company with significant potential, through leveraging its portfolio of strong consumer brands and its geographical footprint. Trian has made a considerable investment in Unilever. We look forward to working collaboratively with management and the Board to help drive Unilever’s strategy, operations, sustainability, and shareholder value for the benefit of all stakeholders.”
THE WHY? Nils Andersen, Chair of Unilever, said, “We are pleased to be welcoming Nelson to the Unilever Board. We have held extensive and constructive discussions with him and the Trian team and believe that Nelson’s experience in the global consumer goods industry will be of value to Unilever as we continue to drive the performance of our business. We look forward to working closely together to create long term sustainable value for our shareholders and wider stakeholders.”