- Unilever (NYSE:UL) stock is rising as activist investor Nelson Peltz joins its Board of Directors.
- He’s also joining the company’s Compensation Committee.
- This has investors hoping he can help improve the company.
Unilever (NYSE:UL) stock is a hot topic on Tuesday following news that activist investor Nelson Peltz is joining its Board of Directors.
Peltz’s appointment to the company’s Board is expected to go into effect on July 20, 2022. This has him taking a non-executive seat on the Board. He joins the company as his investment fund, Trian Fund Management, holds a 1.5% stake in UL stock.
So why exactly is Peltz taking an interest in UL stock? The company hasn’t been doing the best lately and investors aren’t overly happy with it. This has them hoping that the activist investor can turn that around. On that same note, Unilever has also added him to its Compensation Committee.
It’s worth mentioning that Nelson Peltz has served on the Boards of several other companies in the past. Among them are Procter & Gamble (NYSE:PG), H.J. Heinz, now Kraft Heinz (NASDAQ:KHC), and Mondelēz International (NASDAQ:MDLZ).
Analysts believe that Peltz joining Unilever’s Board is a positive for UL stock. Jack Martin, fund manager at Unilever shareholder Oberon Investments, said as much to Reuters.
“I think it’s fantastic news. Nelson Peltz is a man with extensive experience of taking activist stakes in some of the largest consumer companies in the world and has been enormously successful doing so.”
Peltz joining the company’s Board also has UL stock seeing heavy trading today. As of this writing, more than 13 million shares are on the move. That’s a mighty leap over its daily average trading volume of 4.2 million shares.
UL stock is up 9.6% as of Tuesday morning.
Investors on the lookout for more recent stock market news are in luck!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.