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Home>Proxy Advisory Firm Egan-Jones Joins ISS and Glass Lewis in Recommending Procter & Gamble Shareholders Vote “For” Nelson Peltz on Trian’s White Proxy Card

Proxy Advisory Firm Egan-Jones Joins ISS and Glass Lewis in Recommending Procter & Gamble Shareholders Vote “For” Nelson Peltz on Trian’s White Proxy Card

Proxy Advisory Firm Egan-Jones Joins ISS and Glass Lewis in Recommending Procter & Gamble Shareholders Vote “For” Nelson Peltz on Trian’s White Proxy Card

10/02/2017

Proxy Advisory Firm Egan-Jones Joins ISS and Glass Lewis in Recommending Procter & Gamble Shareholders Vote “For” Nelson Peltz on Trian’s White Proxy Card

All Three of the Nation’s Proxy Advisory Firms Believe Adding Nelson Peltz to the P&G Board is in the Best Interest of All Shareholders

Trian Fund Management, L.P. (“Trian”), whose investment funds beneficially own approximately $3.5 billion of shares of The Procter & Gamble Company (NYSE: PG) (“P&G” or the “Company”), today announced that Egan-Jones Ratings Company (“Egan-Jones”), an independent proxy advisory firm, has joined Institutional Shareholders Services Inc., and Glass Lewis & Co., LLC in recommending that P&G shareholders vote “FOR” Nelson Peltz on the WHITE proxy card at P&G’s Annual Meeting of Shareholders on October 10, 2017.

Trian is gratified that all three of the nation’s independent proxy advisory firms agree that Nelson Peltz’s significant consumer packaged goods (CPG) experience and long track record of improving performance at consumer companies will add significant value to the P&G Board. Egan-Jones’ report also underscores the failure of P&G’s Board and management team to appropriately address the issues which have led to the Company’s consistent underperformance relative to its peers over the past decade. Trian strongly urges fellow shareholders to vote “FOR” Nelson Peltz on the WHITE proxy card.

In making its recommendation, Egan-Jones noted*:

  • “The success of Mr. Peltz in Mondelez, Heinz, and Wendys, in our view, is a well-founded attestation of Trian’s ability to reposition P&G as the top global provider of consumer products.”
  • “We believe the current Board and management failed to maximize the Company’s potential as evidenced by critical continuing loss of market share . . .”
  • “We believe that redirecting P&G’s strategy to invest in small to medium-sized local brands will enable the Company to match the changing taste and preference of the consumers both globally and locally, which will, in turn, improve its market share thereby benefiting all shareholders in the long-run.”
  • “We believe that the election of Mr. Peltz will encourage the very talented and competitive incumbent Board to step up its game and improve both the structure and performance of the firm in the long run.”

With the annual meeting less than two weeks away, Trian urges P&G shareholders to vote “FOR” Nelson Peltz on the WHITE proxy card TODAY.

Every vote is important. P&G shareholders who have questions about how to vote their shares may contact:

INNISFREE M&A INCORPORATED
Call Toll-Free (877) 750-8338 (from the U.S. and Canada)
Or (412) 232-3651 (from other locations)

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