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• The appointment of Peltz is expected to be effective from 20 July 2022
Billionaire activist investor Nelson Peltz is set to join the board of Unilever plc, the company said on Tuesday.
Peltz, who is the CEO and a founding partner of an investment management firm, Trian Fund Management, owns 1.5% stake in Unilever through his hedge fund.
“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,” said Peltz.
The appointment of Peltz is expected to be effective from 20 July 2022, the consumer goods giant said.
Shares of the company soared 7% in London as Peltz is expected to join the board as non-executive director in Unilever.
Investors are disappointed after Unilever’s, the maker of Dove soap, multiple failed attempts to buying GSK’s consumer business and poor stock performance.
Peltz is expected to help the company in buying GSK’s consumer arm.
Picture Credits: Reuters
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