Finance


Peltz, the manager of $12.5 billion Trian Partners, took on P&G over the summer, seeking a board seat after the company rejected his request to be added to the board. CalSTRS, the California State Teachers’ Retirement System, came out in support of Peltz last month.

CalSTRS holds close to 5.6 million shares of P&G stock valued at approximately $508 million. The large pension fund has been an investor with Trian since April 2011.

Sheehan said that CalSTRS supports a number of activists.

“They play a positive role in the capital markets. They help generate enhanced shareholder return for us.”

P&G acknowledged the narrow margin of votes in a statement on Wednesday, saying the results are preliminary and subject to a review and challenge period.

— CNBC’s Liz Moyer contributed to this report.



Source: https://www.cnbc.com/2017/11/17/nelson-peltz-will-bring-fresh-perspective-to-pg-calstrs.html

Products You May Like

Articles You May Like

Europe’s new privacy law is creating big business opportunities
Uber EMEA head hopes firm will keep London license
Lessons for entrepreneurs from Taobao University
Even financial aid won’t help you cover these college expenses
How student loans stop people from saving for retirement

Leave a Reply

Your email address will not be published. Required fields are marked *