Trian and Procter & Gamble Co were close to reaching an agreement that would allow Peltz to join the Board if public goals weren't met, but the discussions fell apart in May. It's not seeking a breakup of the company or a new chief executive officer, but rather to shake up its "slow-moving and insular" culture, according to the filing.
For instance, Peltz acknowledged during a CNBC interview that P&G is a "great company" that's backed by a "phenomenal" CEO David Taylor who hasn't yet lived up to his full potential.
P&G's shares have underperformed peers such as Colgate-Palmolive and Johnson & Johnson, as well as the broader S&P 500 index, in the past decade.
P&G said in a statement that it's maintained an active dialogue with Trian, but that it's sticking with its current strategy. Dan Loeb's Third Point disclosed last month that it had amassed a $3.5 billion stake in Nestle, encouraging the company to sell its stake in cosmetics maker L'Oreal and increase leverage for share buybacks. In the subsequent meetings, Trian outlined ideas for accelerating growth and improving profitabilty and performance, including by cutting down on bureaucracy within the organization.
Can Trian Fund Management really fix what ails Procter & Gamble (PG)?
Trian doesn't typically take part in proxy fights and often simply provides advice.
This move comes after Peltz was denied a seat on the Board last week.
Calling P&G's financial results over the last decade "disappointing", Trian cited weak shareholder returns, deteriorating market share and excessive cost and bureaucracy in the Securities and Exchange Commission filing that announced the challenge.
The company has a market value of roughly $222.7 billion, based on the number of outstanding shares as of late March.
On average, analysts anticipate that Alder BioPharmaceuticals will post ($6.33) earnings per share for the current fiscal year. WARNING: This piece was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives.
This is the lowest proportion in its records going back to 2010, when overseas landlords owned one in eight (12%) let properties. The fall is most evident in London, where the proportion of overseas landlords has fallen from 26% to 11%.
Vic was busted back in March for carrying a loaded gun after cops stopped him for running a stop sign in Beverly Hills. Now, TMZ reports that Vic plead no contest and got sentenced with two years probation as a result.
Trump also insulted his Republican rival Carly Fiorina during the race, suggesting she was too unattractive to run the country. It was the fact that people are still age shaming France's First Lady, and telling her what "age-appropriate" clothing to wear.
Whittaker will become the 13th Doctor in the show's history, taking over for current star Peter Capaldi at the end of this year. In our recent Ars poll, readers-after some very heated discussions-settled on Kris Marshall to play the next Doctor .
Hough is a judge on Dancing With the Stars and recently performed in the live television version of Grease . She told People magazine, "I don't think I ever really necessarily dreamed about my wedding as a kid.
Le Parlement iranien voterait ce texte si la Chambre des représentants approuvait le texte adopté par le Sénat américain. Hossein Fereydoun a participé aux négociations qui ont abouti à l'accord sur le nucléaire iranien en 2015.
12-year-old girl struck, killed by boat on New Hampshire lake
A 12-year-old girl was killed on Newfound Lake early Monday morning when the boat she had been on ran over her, police said. As her dad circled back to pick her up, the boat slowly ran over her when her father's "attention was briefly distracted".
Japon : l'épouse de Totti a dit non
Le club de D2 japonaise Tokyo Verdy rêvait de recruter Francesco Totti (40 ans) cet été. Une autre, en tant que dirigeant, commence et elle est toute aussi importante.
AHS issues air quality warning for Calgary
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