Alexa
  • Directory of Taiwan

Procter & Gamble urges shareholders to vote against Peltz

Procter & Gamble urges shareholders to vote against Peltz

NEW YORK (AP) — Procter & Gamble has hit back at activist investor Nelson Peltz, saying in a letter that he's not entitled to a board seat just because he wants it.

Peltz's hedge fund has a 1.5 percent stake in the consumer products company. He has pushed to secure a seat on the board to help reverse what he says is P&G's disappointing financial performance over the last decade.

In its letter, P&G urged shareholders to vote against Peltz, saying he has offered no new actionable ideas for the company.


Updated : 2021-06-20 00:03 GMT+08:00