Nelson Peltz at Harvard Business School
Nelson Peltz at Harvard Business School
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Interviews,Business,John Quelch
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Nelson Peltz claims victory, but he might never claim a Procter & Gamble board seat
Nelson Peltz claims victory, but he might never claim a Procter & Gamble board seat The votes have been counted twice now, but plenty of questions must still be answered before anyone can say for sure if Nelson Peltz will join Procter & Gamble Co.'s board. "It'll be another three to four weeks at least," said P&G spokesman Damon Jones. "Our goal is to make sure that every vote is counted and that every vote is counted accurately. If that's the case, we will respect the will of the shareholders." A Delaware-based inspector of elections announced Wednesday that Peltz, a New York –based hedge fund manager, won a seat on the P&G board by the slimmest of margins: Less than 43,000 shares out of 2.67 billion shares voted. Peltz declared victory and urged P&G not to challenge the results. P&G said it will not concede defeat until it's sure no mistakes were made. "You know, 43,000 is not a lot of votes," Jones said. ...
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