Procter & Gamble (PG) Preliminary Vote Shows Nelson Peltz Lost Proxy Contest

Procter & Gamble (NYSE: PG) said the preliminary vote shows that Nelson Peltz lost the proxy contest for a seat on the board.

The company announced that, based on a preliminary vote count provided by its proxy solicitors following the Company’s 2017 Annual Meeting of Shareholders, shareholders have voted to elect all 11 of P&G’s highly qualified Directors to the P&G Board: Francis S. Blake, Angela F. Braly, Amy L. Chang, Kenneth I. Chenault, Scott D. Cook, Terry J. Lundgren, W. James McNerney, David S. Taylor, Margaret C. Whitman, Patricia A. Woertz, and Ernest Zedillo. Nelson Peltz of Trian was not elected to the Board.

P&G issued the following statement:

P&G’s Board and management team thank P&G shareholders for their support, input and participation throughout the proxy contest. We are encouraged that shareholders recognize P&G is a profoundly different, much stronger, more profitable Company than just a few years ago. The changes the Company has made are broad based and delivering results. We look forward to continuing our transformation journey. We are committed to meeting the needs of consumers with our brands and products, and to creating value for P&G shareholders.

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