P&G Counts Board Vote Win As Peltz Claims 'Change' Message Delivered
Executive Summary
Procter & Gamble says preliminary results keep billionaire activist investor Nelson Peltz off its board and re-elect its 11 incumbents. However, Peltz plans to challenge the vote outcome and analysts agree that his pressure for change at P&G scored points with shareholders.
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P&G Board Seat Swings To Peltz In Ongoing Vote Tally
P&G says results from an independent tabulator indicate Trian Fund head Nelson Peltz is leading the firm's candidate, Ernesto Zedillo, in a board proxy vote by around 42,780 shares, or 0.0016% of total outstanding shares. But P&G says the vote count isn't completed.