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Unilever Names Activist Investor Nelson Peltz to Board

On Tuesday, Unilever nominated Nelson Peltz to its board of directors, as the company continues to discuss strategy with the American activist investor, who now has a roughly 1.5 percent interest in the consumer products behemoth. Peltz will join Unilever as a non-executive director in July and will be a member of the board’s pay committee, according to the company.

Peltz hedge fund, Trian Fund Management, oversees funds with stakes in around 37.4 million Unilever shares, or 1.5 percent of the British corporation, according to the company. Peltz said in a statement, “We look forward to collaborating with management and the Board to help advance Unilever’s strategy, operations, sustainability, and shareholder value.”

His hiring comes months after it was revealed that he had developed a stake in Unilever, whose strategy was questioned earlier this year after a brief chase of GSK’s consumer healthcare division. “We have had long and positive talks with him and the Trian team, and we believe Nelson’s expertise in the global consumer products market would be beneficial to Unilever,” said Nils Andersen, chairman of Unilever. Unilever’s ambitions under Chief Executive Officer Alan Jope have been questioned following the company’s failed 50-billion-pound ($63-billion) bid for GSK’s consumer health unit.

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