Trian to Launch Proxy Fight Against P&G

P&G under attack

Nevertheless, the activist investor will now be seeking support from other shareholders and could highlighted the stock's poor performance over the years.

Trian also claimed the company's market share had deteriorated as organic sales growth had decelerated and that it needed to take further action beyond selling off unprofitable brands.

"I am quite surprised and very disappointed because I think David (Taylor) and I have developed a very positive relationship", Peltz told CNBC, when asked if he was surprised that the dialogue had turned into a proxy fight.

With P&G's annual meeting usually held in October, the two sides have roughly three months to continue to discuss ways to avoid a shareholder vote on Peltz, who if elected would boost the board to 12 members.

Trian says that Peltz will nominate the director that he replaces, which would expand the Board to a new total of 12 members.

Dhawan to replace injured Vijay for Sri Lanka
The right-hander has been asked to continue with his rehabilitation program after complaining of wrist pain during a match. On the other hand, Murali Vijay has not played any competitive cricket since the end of the Australia Tests.

PG stock was up slightly as of Monday morning.

Trian, which describes itself as one of P&G's largest shareholders, said the Cincinatti-based consumer goods group had suffered "disappointing results over the past decade" and that it wanted to "help the company address the challenges it is facing". "We just can't keep going along the same path", he said.

The consumer goods giant, whose products include Crest toothpaste and Gillette razors, has struggled in recent years to win over Wall Street analysts anxious by increased competition and declining market share, particularly in the United States.

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. P&G have reportedly been in talks for five months, but the company is said to have rejected to name Peltz as a director last week.

However, it does want to bring change to the company, which includes cutting cost and management.

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