May 31 (Reuters) – Unilever, the maker of Dove soap and Hellman’s mayonnaise, announced billionaire activist investor Nelson Peltz on its board of directors on Tuesday.
The London group’s stock jumped 7% after the announcement that Nelson Peltz, who holds a 1.5% stake in Unilever, would become a non-executive director from July and would be a member of the board’s remuneration committee. of administration of the company.
The move is likely to increase pressure for a bigger overhaul of Univeler’s strategy, following the group’s failed bid to acquire the consumer healthcare arm of GlaxoSmithKline for £50 billion ($58.77 billion). euros) earlier this year.
“We look forward to working collaboratively with management and the board to contribute to Unilever’s strategy, operations, sustainability and shareholder value,” Nelson Peltz said in a statement.
Unilever said Nelson Peltz’s hedge fund, Trian Fund Management, manages funds with interests in around 37.4 million Unilever shares, or 1.5% of the UK company.
Nelson Peltz, CEO and co-founder of Trian, is known for his focus on consumer-focused companies and for proposing operational changes at the fund’s portfolio companies.
“We have had extensive and constructive discussions with him and the Trian team and are confident that Nelson’s experience in the global consumer goods industry will be valuable to Unilever,” said Nils Andersen, Group Chairman.
RBC and Credit Suisse analysts hailed the appointment of Nelson Peltz, saying he could bring positive changes to corporate culture and financial performance. (Sachin Ravikumar in Bangalore and Richa Naidu in London; French version Federica Mileo, editing by Kate Entringer)