Procter & Gamble Co (NYSE:PG) says that its shareholders have selected its 11 directors.
Procter & Gamble Co says that preliminary results from proxy solicitors show that the following 11 members have been voted to its Board of Directors.
- Francis S. Blake
- Angela F. Braly
- Amy L. Chang
- Kenneth I. Chenault
- Scott D. Cook
- Terry J. Lundgren
- W. James McNerney
- David S. Taylor
- Margaret C. Whitman
- Patricia A. Woertz
- Ernest Zedillo
Nelson Peltz, the head of asset management firm Trian, was another person that was seeking a seat on Procter & Gamble Co’s Board of Directors. However, he was not chosen by its shareholders. The voting to choose PG’s directors took place during its 2017 Annual Meeting of Shareholders.
Nelson Peltz reportedly only lost the chance at a Board of Directors seat by a slim margin. Trian says that the results of the voting was too close to call and that it will be challenging the results. It also notes that the vote shows Procter & Gamble Co that shareholders are concerned over its recent earnings.
Trian has a $3.5 billion stake in Procter & Gamble Co. The activist investor announced earlier this year that it was nominating Nelson Peltz as a member of PG’s Board of Directors. In a recent interview, Peltz said that PG should add him to its Board of Directors no matter what the outcome of the vote is, reports CNBC.
Procter & Gamble Co says that it is still waiting for the final results of the vote. Once it has these, it will be submitting them to the SEC via a Form 8-K.
PG stock was down 1% as of noon Tuesday, but is up 7% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
