Unilever PLC has appointed Nelson Peltz as a non-executive director of the company and as a member of its Compensation Committee.
 
Peltz is chief executive officer and a founding partner of Trian Fund Management, L.P., an investment management firm. He has previously served on the Boards of several major global consumer goods companies, including The Procter & Gamble Company, H.J. Heinz Company and Mondelēz International.
 
Unilever reported underlying sales growth of 4.5% in fiscal 2021. Analysts expect Peltz, who is known as a successful activist investor, to shake up the slow-growing consumer-goods giant.
 
Nils Andersen, chair of Unilever, said, “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.”
 
Peltz commented, “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. 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.”
 
Trian has confirmed that it manages funds which hold interests in approximately 37.4 million ordinary shares of Unilever, constituting approximately 1.5% of Unilever’s share capital.
 
Peltz’s appointments are expected to be confirmed on or before July 20, 2022, subject to receipt of any required regulatory approvals.

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