Procter Gamble CEO Nelson Peltz to step down at end of term

56
1

Aug 5 - Procter Gamble Co said that activist investor Nelson Peltz would step down as CEO on Thursday at the end of his term later this year.

In 2018 the consumer goods company appointed the founder of Trian Fund Management to its board after a bitter months-long proxy fight - the biggest ever involving a U.S. company at the time.

During the fight, the hedge fund manager had advocated for a break up of the company and even a shift out of his Cincinnati headquarters, both issues that he later relented on.

Since 2017 Trian has sold some stake in P&G.

P&G has created tremendous value for all stakeholders since 2017, Peltz said in a statement on Thursday.