Procter & Gamble faces board seat fight from Trian Fund Management

Procter & Gamble Faces Showdown With Activist Investor Peltz

Peltz is not seeking a breakup of the company or a new CEO - for now - but says it wants to shake up PG's "slow-moving and insular" culture, according to Trian's SEC filing.

This is also not the first time Procter & Gamble has faced activist pressure: The billionaire William A. Ackman pushed the board to oust chief executive Robert A. McDonald in 2013, forcing Mr. McDonald's predecessor, Alan G. Lafley, out of retirement and back as chief. Nor was it seeking to replace the company's chief executive of less than two years, David S. Taylor. But the focus is rally on P&G's cost cutting efforts, with Peltz arguing that the company failed to capitalize on its cost-cutting efforts over the past five years.

P&G said in a statement that it's maintained an active dialogue with Trian, but that it's sticking with its current strategy.

With a market capitalization of $223 billion, P&G would be the largest company to face a board seat proxy fight.

Roselle Man Charged in Multi-Vehicle Crash That Killed 2, Police Say
A 38-year-old woman who was driving eastbound on the parkway swerved, but was struck by Shakespeare's vehicle, police said. They say he sideswiped a auto next to him, lost control, and swerved across three lanes, hitting two more cars.

On July 11, Peltz proposed he be given one seat on the board.

Trian says PG last week rejected its demand to name Peltz a director, which Deutsche Bank sees as "a sign that management is confident in its strategy and is unlikely to miss expectations over at least the next few months".

Analyst Kevin Grundy of Jeffries said in a client note that while P&G has taken "sensible" steps to boost shareholder value and there's no guarantee that Peltz will get a seat on P&G's board, "the perceived value of his presence may lead to greater/faster realization of cost savings and/or raise the execution bar at P&G". "The company must act with the greatest possible urgency to address the market share it is losing to both its peers and smaller local competitors, who are adapting to industry changes more effectively than P&G".

Related News:

  • Macron: Charm Offensive May Soften Trump's Climate Stance

    Macron: Charm Offensive May Soften Trump's Climate Stance

    President to reverse his pledge to pull out of the Paris climate accord might be asking for too much. The White House, meanwhile, remains non-committal about the USA rejoining the climate deal.
    South Florida Watching Two Tropical Waves In The Atlantic

    South Florida Watching Two Tropical Waves In The Atlantic

    The hurricane center said the storm could develop more over the day or two as it reaches the Lesser Antilles in the Caribbean. After that, less favourable upper-level winds are expected to hinder additional development.
    Greenlaw Named To Butkus Award Watch List

    Greenlaw Named To Butkus Award Watch List

    The Butkus Award has been given out annually since 1985, and has been awarded by The Butkus Foundation since 2008. He added 125 yards through the air on 17 receptions and averaged 22.3 yards per kickoff return.
  • South Korea Proposes Fresh Talks With North Korea

    South Korea Proposes Fresh Talks With North Korea

    South Korea's Defense Ministry made the offer on Monday morning, the first since Moon Jae-in became the South's president. Seoul however says the group-12 waitresses and a restaurant manager- had defected to the South past year .
    Global cyber attack could spur $53 billion in losses: Lloyd's of London

    Global cyber attack could spur $53 billion in losses: Lloyd's of London

    According to Lloyds and Cyence, average economic losses from a major attack on cloud services could be about $53 billion. In June, an attack of a virus dubbed "NotPetya" spread from infections in Ukraine to businesses around the globe.
    No Exceptions For Depositing Old Notes: Centre To Chief Justice Of India

    No Exceptions For Depositing Old Notes: Centre To Chief Justice Of India

    Government referred to the earlier instances of misuse of extensions given for submitting demonetised notes. People queued up in front of banks to deposit their old notes after demonetisation was announced.
  • Here's how Katrina Kaif celebrated her birthday

    Here's how Katrina Kaif celebrated her birthday

    Well, that's what Twitterati have been joking about ever since an editor goofed-up with the footage of IIFA Awards 2017. At the glittering ceremony of IIFA Awards, Alia along with Varun Dhawan sang birthday song for the actress.
    Stenson pessimistic about retaining British Open title

    Stenson pessimistic about retaining British Open title

    Following Stenson's group will be 2010 Open champion Louis Oosthuizen , England's Justin Rose and American Justin Thomas . Henrik Stenson has cast doubt on the chances of him retaining his Open Championship title at Royal Birkdale next week.

    Chelsea make transfer offer to Atletico Madrid star Yannick Carrasco

    Whether the Blues send him out on a six-month loan and then sell him to the Spanish side is a question we will have to find out. It is believed the 22-year-old will complete his move to the Premier League champions in the next few days.
  • Mom spoofs Beyoncé's twins pic with her own viral snapshots

    Mom spoofs Beyoncé's twins pic with her own viral snapshots

    Coming back to the picture, we wonder if Beyonce and Jay Z have seen the viral picture yet? We're not sure as to how many GRAMMYs Sharon has.
    Carolina Panthers release GM Gettleman

    Carolina Panthers release GM Gettleman

    Gettleman served as the Giants' pro personnel director from 1999-2011 and was their senior pro personnel analyst in 2012. The team parted with 13-year veteran Steve Smith in 2014.

    Centrica PLC (CPYYY) Upgraded at HSBC Holdings plc

    The firm's 50 day moving average price is GBX 495.34 and its 200-day moving average price is GBX 477.21. The firm has a market cap of $188.62 billion, a price-to-earnings ratio of 357.11 and a beta of 0.87.


Most liked

Burglary at Heller's Las Vegas office investigated
Dean Heller , R-Nev., is shown during a press conference at the Grant Sawyer State Office Building in Las Vegas. We have reached out to the Las Vegas Metro Police Department and Senator Dean Heller's office.

IDF soldier who shot wounded terrorist sent to house arrest
He will remain there except for trips to the synagogue, accompanied by a family member, on Friday night and Shabbat day. Elor Azaria, speaks to press at the Kirya military base in Tel Aviv following the verdict of Azaria on January 4, 2017.

Biden to write book about grieving son's death
PROMISE ME, DAD chronicles 2015, the most momentous and challenging year in Vice President Biden's extraordinary life and career. Joe Biden's new book, Promise Me, Dad , now has a November 14 release date, as announced by Flatiron Books .

Tesla driver denies 'Autopilot' led to Minnesota crash
But the driver said in the email released on Monday he believed he had disengaged the Autopilot system at the time of the crash. Additionally, every time that Autopilot is engaged, the auto reminds the driver to "Always keep your hands on the wheel".

Newgarden wins second Honda Indy Toronto
This weekend, the Verizon IndyCar Series heads to Toronto to race in the 12th of 17 events ( Honda Indy Toronto , Sunday, 3 p.m. Josef Newgarden had some fun at hometown star James Hinchcliffe's expense in the Honda Indy Toronto .

Most Active Stock: Ocular Therapeutix, Inc. (OCUL)
Finally, Berson & Corrado Investment Advisors LLC boosted its stake in shares of Ocular Therapeutix by 5.8% in the first quarter. Ocular Therapeutix has a one year low of $4.04 and a one year high of $11.91. (NASDAQ: OCUL ) plummeted -0.22% to $6.66.

JMP Securities Upgrades Fifth Street Finance Corp. (FSC) to Outperform
Increasing profits are the best indication that a company can pay dividends and that the share price will trend upward. TheStreet lowered Fifth Street Finance Corp. from a "c-" rating to a "d+" rating in a report on Wednesday, June 14th.

Barclays fraud trial over 2008 financial crisis fundraising deals set for 2019
The four former executives appeared at Southwark Crown Court for a trial preparation hearing today (Mon). Boath and Kalaris each face one fraud count between May and August over the June capital raising.

Manziel has spoken to teams about National Football League return
Greatly missing the game is one of the driving factors for the former Aggies Heisman Trophy victor . The thing he learned the most during this time, Manziel says, is how much he misses football.

GST Council increases cess on cigarettes; blow to manufacturers
Earlier there were reports that the Union Government may hike cess on cigarettes if prices fell after GST implementation. The cess was made up of 5 per cent ad valorem rate and a fixed per thousand stick rate based on length of cigarettes.

United States conglomerate to purchase Dominion Diamond in $1.2B U.S. deal
The basic materials company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.04. The Stock traded with an actual day volume of 4.01 Million and average volume of 545.36 Million respectively.

Charlie Gard to be examined by U.S. doctor who created experimental treatment
Hirano says the therapy he is developing could improve the condition of Charlie who suffers from a form of mitochondrial disease. Connie Yates will join USA neurosurgeon Michio Hirano and other medical experts at Great Ormond Street Hospital, London.

Track Fire In Harlem Disrupts Subway Service; 9 Treated For Smoke Inhalation
B train service resumed with delays after being suspended between Bedford Park Boulevard and Brighton Beach in both directions. Twitter user Tamara Hansson tweeted , "Now me and several hundred other people are walking to the 145th 1 train".

7 million Venezuelans vote to reject Maduro - opposition
Various former Latin American heads of state attended Sunday's vote as observers in support of the opposition. Academics monitoring the vote said that 7,186,170 people took part in the non-binding referendum.

Yankees notebook: Chapman rebounds, Judge cools
CC Sabathia allowed two hits over six innings in the opener, and Didi Gregorius hit a solo home run to give NY a 3-0 victory. Boston (52-41) salvaged a split of its four-game series with NY (47-43) after losing earlier Sunday afternoon .