Economy

Peltz advances plan to shake up Procter & Gamble

Peltz advances plan to shake up Procter & Gamble”

Consumer goods giant Procter & Gamble fired the latest salvo in its battle with activist shareholder Nelson Petlz Thursday, dismissing a 94-page white paper prepared by Peltz as containing "nothing substantive".

The plan comes as Peltz seeks one seat on the company's board, in the largest boardroom battle at a USA company and one that is shaping up to be one of the most expensive in recent history.

Shareholders will vote on October 10 on whether to add Peltz to the board.

Activist investor Trian Partners on Wednesday released its long-awaited plan to boost shares of Procter & Gamble, detailing changes meant to streamline and rejuvenate the maker of Crest toothpaste, Tide laundry detergent and Pampers diapers.

Trian Partners said P&G continues to suffer from eroding market share, aging brands, high costs and a "suffocating bureaucracy".

And while Peltz has previously provided some details about what he is seeking, the report provided many more details, as well as numerous charts seeking to show how P&G has underperformed its peers. The fund manager had said previously that its leaders don't have the power to control their destiny, which he insists impedes growth and adds costs and complexity.

The billionaire investor is calling for P&G to reorganize into three largely autonomous units: A beauty, grooming and health-care business; a fabric and home-care division; and baby, feminine and family-care products.

The move would break up P&G's "matrix" organizational structure, which Trian said slows decision making as well as the company's ability to respond to market changes. Trian, which owns a $3.5 billion stake, says P&G is now pressing the company to restructure and combine businesses, hire outside leadership, overhaul compensation and acquire small local brands to attract millennial shoppers, according to the Wall Street Journal'sSharon Terlep and David Benoit.



Like this

Latest


07 September 2017
Zayn and Sia Team Up for "Dusk Till Dawn"
Like any good music video that very badly wants to be a movie, it features auto chases, explosions, and real actors ( Jemima Kirke , late of Girls ).

07 September 2017
North Korea situation needs quick action, says Shinzo Abe
North Korea has previously threatened to launch missiles toward the USA island territory of Guam. They are also considered sympathetic toward their communist neighbor North Korea.

07 September 2017
John Deere announces investment in tech company Blue River Technology
Blue River also said LettuceBot enables the use of non-GMO seeds and chemicals that were previously too expensive for broad use. John Deere has always been known for its iconic green tractors, combines, balers, and other farming equipment.

07 September 2017
New tool spots first signs of Parkinson's
Participants were asked to write a sentence, individual letters, a sequence of letters and to sketch a guided Archimedean spiral. Researchers developed a customized software that records how a person draws a spiral and analyses the data in real time.

07 September 2017
Flip-flop qubit: Researchers find new way to build quantum computers
These systems are large and easier to fabricate, and are now leading the way in the number of qubits that can be operated. The company, based at UNSW's Sydney campus has the goal of producing a 10 qubit integrated circuit prototype by 2022.

07 September 2017
Navy to move USS McCain to Japan for damage assessment
It's unclear if the Navy has the facilities and dry dock space to fix the guided-missile destroyer in Yokosuka. A memorial ceremony for the lost McCain sailors may be held at Yokosuka in coming weeks, Doss added.

07 September 2017
9-Year-Old Had A Cardiac Arrest After Eating A Hotdog
A piece of hot dog caused the boy's vagus nerve, which assists heart and gastrointestinal function, to change his heart beat. Normally the illness only triggers a life-threatening reaction in heavy drinkers or people with a high temperature.

07 September 2017
Surgery sidelines Haylett-Petty, Uelese in line for Wallabies bow
Australia winger Dane Haylett-Petty needs surgery for a left biceps injury and is likely to be sidelined for three months. The other three alterations come in the pack, with Tatafu Polota-Nau, Sekope Kepu and Adam Coleman all earning recalls.

07 September 2017
Destiny 2 Features a Nice Throwback to Your Past Adventures
A Destiny 2 "Permissions" error is now preventing some PS4 players from accessing the recently released game. Guided Games will be playable as a beta by select Guardians come September 12 and 26.

07 September 2017
Microsoft Surface event scheduled for 31st Oct in London
People who are using Microsoft's Windows phones, are eagerly waiting for some updates to the software and hardware as well. The updated Surface Book and Surface Pro are expected to be powered by Intel's latest 8th gen processors.



Recommended