P&G Backs Down From Its Staunch Objection; Appoints Peltz to Its Board; Shares a Touch Undervalued
On Dec. 15, wide-moat Procter & Gamble announced that despite the latest certified proxy results evidencing that activist investor Nelson Peltz (who owns about $3.5 billion or around 1% of shares outstanding) fell short in his crusade for a board seat by around 500,000 votes, the firm has opted to add him to its board, ending a months-long saga. In addition, P&G has also appointed Joseph Jimenez, CEO of Novartis, as a director, increasing the size of the board to 13 members.While we’ve ...
Procter & Gamble provides consumer packaged goods. The company's products are sold primarily through mass merchandisers, e-commerce, grocery stores, membership club stores, drug stores, department stores, distributors, wholesalers, baby stores, beauty stores, other stores and pharmacies. The company has five reportable segments: Beauty, which includes hair care, and skin and personal care products; Grooming, which includes shave care products; Health Care, which includes oral care and personal health care products; Fabric and Home Care, which includes fabric care and home care products; and Baby, Feminine and Family Care, which includes baby care, feminine care and family care products.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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