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Activist investor Nelson Peltz to join P&G board

Jaclyn Jaeger | December 28, 2017

Procter & Gamble Company said that it has appointed activist investor Nelson Peltz to its board of directors, despite Peltz narrowly losing his seat in the biggest corporate proxy battle ever involving a U.S. company. His appointment is effective March 1, 2018.

Nearly two billion shareholder votes had to be counted, said P&G Chairman David Taylor in an open letter to shareholders announcing the certified results of its 2017 Annual Meeting of Shareholders. “A significant number of votes were submitted through paper ballots given P&G’s large retail shareholder base, requiring a substantial part of the vote to be counted manually by IVS, the Independent Inspector of Elections,” Taylor said. “Following the review process, a final...

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