As P&G Board Vote Looms, Activist Investor Peltz Gains Endorsements

As Procter & Gamble prepares for a shareholder vote that could shake up its board and its strategies, proxy advisor Glass, Lewis & Co. recommends shareholders vote in favor of electing Trian Fund Management CEO Nelson Peltz, who's pressing the firm for dramatic operational changes.

Procter & Gamble Co.'s campaign to keep activist investor Nelson Peltz off its board took a hit three weeks before a deadline for shareholders' votes as a corporate governance advisor recommended electing the Trian Fund Management LP head to the board.

The shareholder vote pits the firm, the largest to face a proxy fight with $235bn in annual sales of health,...

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