Ingersoll-Rand (IR) Adds Trian Fund's Peltz to Board

August 13, 2012 6:39 AM EDT
Ingersoll-Rand plc (NYSE: IR), and Trian Fund Management, L.P. announced that Ingersoll Rand is expanding its Board of Directors with the appointment of Nelson Peltz, Chief Executive Officer and a founding partner of Trian Fund Management, L.P., effective August 10. This brings the number of directors on the Company’s Board to twelve, of which eleven, including Mr. Peltz, are independent directors. Mr. Peltz will also join the Corporate Governance and Nominating Committee and the Finance Committee of Ingersoll Rand’s Board of Directors.

Peltz founded Trian Partners in 2005 with Peter May and Edward Garden. From 1993 to 2007, Mr. Peltz served as Chairman and Chief Executive Officer of Triarc Companies, Inc., which during that period of time owned Arby’s Restaurant Group, Inc. and the Snapple Beverage Group, as well as other consumer and industrial businesses. Mr. Peltz was Chairman and Chief Executive Officer and a director of Triangle Industries, Inc. from 1983 until December 1988, when that company was acquired by Pechiney, S.A. Mr. Peltz began his business career in 1963 when he joined his family food business.

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