FMCG giant Unilever has announced the appointment of Nelson Peltz as a non-executive director after building a stake in the company through his New York hedge fund Trian Fund Management.
The Marmite and Ben & Jerry’s owner said that the appointment of activist investor Nelson Peltz will take effect from 20 July 2022.
Peltz holds the position of chief executive officer and a founding partner of Trian Fund Management, an investment management firm, and has previously served on boards of various major global consumer goods companies, including Procter & Gamble, Heinz and Mondelēz International.
He currently serves as a non-executive chairman of Wendy’s and on the boards of Janus Henderson and Madison Square Garden Sports Corp.
“I am delighted to be joining the Board of Unilever. We believe it is a company with significant potential, through leveraging its portfolio of strong consumer brands and its geographical footprint,” Nelson Peltz said.
“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.”
Unilever chair Nils Andersen added: “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.”
The appointment comes after a difficult period for Unilever, where chief executive Alan Jope failed in an attempt to take over the consumer division of GlaxoSmithKline (GSK).