Activist investor Nelson Peltz has been named as a board member of the consumer goods group Unilever after building roughly 1.5% stake in the consumer goods giant.
Unilever announced the appointment of Peltz, will take effect from July 20 and will join as a non-executive director from July and serve as a member of the board’s compensation committee.
The company said Peltz’s hedge fund TFM (Trian Fund Management) manages funds with interests around 37.4 million Unilever shares, or simply 1.5% of the British firm.
“We look forward to working collaboratively with management and the Board to help drive Unilever’s strategy, operations, sustainability, and shareholder value,” Peltz said in a statement.
