Unilever PLC has appointed Nelson Peltz as a non-executive director and a member of its Compensation Committee.
Peltz is chief executive officer and a founding partner of investment management firm Trian Fund Management that manages funds which hold interests in approximately 37.4 million ordinary shares of Unilever, constituting approximately 1.5 percent of Unilever’s share capital.
Nils Andersen, chair of Unilever, said in a statement: “We are pleased to be welcoming Nelson to the Unilever Board. We have held extensive and constructive discussions with him and the Trian team and believe that Nelson’s experience in the global consumer goods industry will be of value to Unilever as we continue to drive the performance of our business. We look forward to working closely together to create long term sustainable value for our shareholders and wider stakeholders.”
Peltz is expected to take up his new role from July 20, subject to receipt of any required regulatory approvals. He has also previously served on the Boards of several major global consumer goods companies, including The Procter & Gamble Company, H.J. Heinz Company and Mondelēz International.
Commenting on his appointment, Peltz added: “I am delighted to be joining the Board of Unilever. We believe it is a company with significant potential, through leveraging its portfolio of strong consumer brands and its geographical footprint.
“Trian has made a considerable investment in Unilever. We look forward to working collaboratively with management and the Board to help drive Unilever’s strategy, operations, sustainability, and shareholder value for the benefit of all stakeholders.”