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P&G appoints Trian’s Peltz to board, ending proxy battle

( December 15, 2017, 22:16 GMT | Official Statement) -- MLex Summary: Procter & Gamble appointed Nelson Peltz to its board, ending a bitter and costly proxy battle. The billionaire activist investor from Trian Fund Management will join the board effective March 1, and P&G said it would add him to its slate of nominees at its next annual meeting. The US consumer-products company also named Novartis Chief Executive Joseph Jimenez as a director, expanding the board to 13 from 11 members. Peltz claimed victory last month, when a preliminary tabulation of proxy votes found him leading by a margin of about 0.0016 percent of shares outstanding. But Peltz lost the vote according to the final tally disclosed by P&G today (here).Full statement appears below....

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