The activist investment fund, led by billionaire Nelson Peltz, is losing co-founder Ed Garden as the firm faces its own succession.
The chairman of the venture funded company, Robert Garden, will retire as chief investment officer after 18 years in the role. Garden, who is the son-in-law of co-founder Peltz, will focus primarily on managing his personal investments while also serving as a senior adviser.
Peltz and co-founder Peter May, both octogenarians, will remain in the position of chief executive and president.
Peltz's son Matt and Josh Frank, who were co-heads of research, will become co-chief investment officers. Brian Baldwin will be the research director of the research center.
They are well prepared to help lead Trian as we continue our efforts to deliver great results at our portfolio companies and attractive returns for our investors in the years ahead, Trian said in a statement.
Nelson Peltz invested in consumer and retail companies including Wendy s Co. and Procter Gamble Co.
Its other consumer investments have included Mondelez International Inc. H.J. and Mondelez International Inc. Frank has been the chairman of Heinz Co. and PepsiCo, some of which have been led by Heinz. The company is presently pushing for changes in Nestle SA's packaged goods division.
In a proxy fight this year, Trian abandoned its campaign for a board seat at Walt Disney Co., saying it was pleased that the company is listening now.
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