The Procter & Gamble Company (“P&G”) is a global consumer packaged goods company specializing in personal care products and cleaning agents. Among the company’s iconic brands are Tide laundry detergent, Crest toothpaste, Gillette razors and Pampers disposable baby diapers.
Trian initiated its investment in P&G in November 2016, believing that the company fit the profile of many Trian investments (e.g., an industry leader with an attractive asymmetric risk/reward profile, substantial market cap, strong balance sheet, and significant free cash flow). Nelson Peltz joined the P&G Board of Directors on March 1, 2018, following the December 2017 announcement of such appointment.
As a large shareholder of Procter & Gamble, Trian believes P&G is well-positioned for continued success given its focused strategies, disciplined execution, accountability-driven organization structure and an extremely strong management team. Under David Taylor’s leadership and the stewardship of the P&G Board, Trian believes the company is well positioned for continued, future success as David Taylor passes the baton to Jon Moeller, who will succeed David Taylor as P&G’s CEO on November 1, 2021.
On August 5, 2021, P&G announced that Nelson Peltz had informed P&G that he had decided not to stand for re-election as a director at the 2021 Annual Meeting of Shareholders.