The twin towers that house the corporate headquarters of Procter and Gamble
17 Julio, 2017, 16:13
Nelson Peltz'sTrian Fund Management said on Monday it was seeking a seat for its billionaire chief executive at Procter & Gamble's board as it looks to push the company to take more drastic steps to revive sales.
Trian, which owns about $3.3 billion of P&G stock, said P&G has underperformed relative to its peers and the S&P 500 over the past decade, saying that total shareholder return was less than half that of its peers and has been in the bottom quartile over recent time frames.
In a bid to boost profits even as sales remain stagnant, P&G has sold unprofitable brands, including 41 beauty brands to Coty, and focused on core brands such as Tide, Pampers and Gillette. With a market cap of $222 billion, Peltz's campaign marks the biggest proxy battle in corporate history based on market size, WSJ noted.
"We believe that P&G has an overly complex organizational structure and a slow moving and insular culture", Trian Partners said in a notice to company shareholders.
Mr Peltz said he had tried to get P&G to expand the board to enable him to join it without an election showdown but in spite of "numerous constructive meetings" he was rebuffed and will now contest a seat against the existing directors.
P&G said in an email on Monday that its board was confident that the changes being made by the company were producing results and expressed complete support for its strategy, plans, and management. Nor was it seeking to replace the company's chief executive of less than two years, David S. Taylor.
We are catching those involved in this shady business and raids are being conducted at several places. Even if there is involvement of the politicians, don't leave them, even if they belong to the TRS.
Chan said she is satisfied with her performance at Wimbledon because she and her partner were able to make it to the final. She was 35 when she won this year's Australian Open. "Actually, it was our goal for all the time that we were playing".
Rain is expected to move north across southern parts of the United Kingdom throughout Tuesday evening and although many places won't see these showers, there is a chance of localised flooding of homes, businesses and susceptible roads.
The firm also changed its name from Avid Life Media to Ruby in the same period in a bid to appeal to a more feminine audience. In 2015, the details of men and women cheating on their partners were exposed, after a hacker group attacked Ashley Madison.
Ford has "confirmed that this is not happening at our plant or at our internal shipping yards", the spokesman told CNN . The Portage County Sheriff's Drug Task Force is working with the DEA in the investigation.
Suntrust Banks Inc. acquired a new stake in shares of Western Gas Partners, during the first quarter valued at about $201,000. A number of large investors have recently bought and sold shares of WGP. 41 funds opened positions while 93 raised stakes.
Investigators from the Federal Aviation Administration were expected to arrive on the scene Monday morning, Whelpley said. The Air Force Heritage Flight Foundation listed Lenoch as a seasoned pilot who learned to fly at the age of 17.
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