Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Procter & Gamble Company    PG

PROCTER & GAMBLE COMPANY (PG)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweets

Procter & Gamble : Peltz says P&G proxy fight 'dumb', will go down to wire

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/06/2017 | 04:30pm CEST
FILE PHOTO: Nelson Peltz founding partner of Trian Fund Management LP. speak at the WSJD Live conference in Laguna Beach

(Reuters) - Procter & Gamble should simply not have bothered resisting activist investor Nelson Peltz's push for a board seat, he said on Friday, promising to keep his shares in the consumer goods company even if he lost next week's vote.

Peltz said that the company had wasted more than $100 million to keep him off the board, despite him having no intention of replacing any board member or Chief Executive David Taylor, and that the vote would be close.

"This proxy fight is probably the dumbest thing I've ever been involved in," Peltz told CNBC on Friday.

One of the best known activist investors in corporate America, Peltz has amassed a $3.5 billion stake in P&G through his firm Trian Fund Management.

He says he wants the company to improve shareholder returns by speeding up a transformation begun in 2014 and further streamlining its operations, moves he hopes he can push with a board seat.

He has also repeatedly said that the company has a "suffocating bureaucracy" that is stalling progress and that reorganizing the company into three global business units would reduce complexity.

"P&G has lost its soul," Peltz said.

With a $235 billion market capitalization, the Oct. 10 vote makes Procter & Gamble the biggest ever firm to face a proxy fight - where two competing groups battle for the shareholder votes needed to control and change companies. P&G in a statement on Friday reiterated its stance that Peltz wasn't a right fit for the board, particularly at this time as the company was in the final stages of its transformation.

"Peltz's timing is late to P&G's turnaround," the company said in the statement.

(Reporting by Siddharth Cavale in Bengaluru)

By Siddharth Cavale

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on PROCTER & GAMBLE COMPANY
10/18PROCTER & GAMBLE COMPANY : Ex-dividend day for
FA
10/17WASTE NOT, WANT NOT : P&G venture aims to squeeze new life out of Italy's dirty ..
RE
10/17PROCTER & GAMBLE : Gillette Partners with Formlabs – a Boston Startup Defi..
BU
10/16PROCTER & GAMBLE CO : quaterly earnings release
10/16PROCTER & GAMBLE : Brings Relief to Residents Affected by Hurricane Michael with..
BU
10/15PROCTER & GAMBLE : Gillette Venus Commits to Celebrating All Women and All Skin ..
BU
10/11PROCTER & GAMBLE CO : Submission of Matters to a Vote of Security Holders (form ..
AQ
10/11PROCTER & GAMBLE : Herbal Essences Becomes First Mass Hair Care Brand in North A..
BU
10/10PROCTER & GAMBLE CO : Regulation FD Disclosure, Amendments to Articles of Inc. o..
AQ
10/10PROCTER & GAMBLE : Pantene Sets out to Help 1.2 Million People Sharing Their #Ba..
BU
More news
News from SeekingAlpha
10/16Clorox Rally Causes Fear - Cramer's Mad Money (10/15/18) 
10/15Can A Dividend Growth Portfolio Beat Index Funds? 
10/15INTERACTIVE BROKERS - U.S. FIXED INC : The Week Ahead 
10/15Game Plan For The Week - Cramer's Mad Money (10/12/18) 
10/13STOCKS TO WATCH : Was That A Speed Bump? 
Financials ($)
Sales 2019 66 623 M
EBIT 2019 14 493 M
Net income 2019 11 184 M
Debt 2019 30 620 M
Yield 2019 3,61%
P/E ratio 2019 18,72
P/E ratio 2020 17,39
EV / Sales 2019 3,41x
EV / Sales 2020 3,33x
Capitalization 197 B
Chart PROCTER & GAMBLE COMPANY
Duration : Period :
Procter & Gamble Company Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PROCTER & GAMBLE COMPANY
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 23
Average target price 83,7 $
Spread / Average Target 3,3%
EPS Revisions
Managers
NameTitle
David S. Taylor Chairman, President & Chief Executive Officer
Jon R. Moeller Vice Chairman & Chief Financial Officer
Kathleen B. Fish Chief Research, Development & Innovation Officer
Javier Polit Chief Information Officer
Scott D. Cook Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
PROCTER & GAMBLE COMPANY-13.95%196 793
UNILEVER NV (ADR)-5.08%153 587
UNILEVER (NL)-1.70%153 322
UNILEVER-2.96%153 322
RECKITT BENCKISER-5.48%60 924
COLGATE-PALMOLIVE COMPANY-17.11%54 268