NOTORIOUS activist investor Nelson Peltz was appointed to the board of Unilever yesterday after building a stake through his firm Trian Fund Management earlier this year.

The FTSE-100 Marmite-maker said yesterday that Peltz will take up his position as a non-executive director and member of the firm's compensation committee from 20 July this year.

Peltz, who has overseen reforms at consumer goods giants including Procter & Gamble and Heinz, had reportedly met with Unilever boss Alan Jope and chairman Nils Anderson in the past few months prior to taking his seat, after it was reported in January he had built a stake in the firm.

His seat comes after a period of high-profile run-ins between Unilever and its investors, with embattled boss Alan Jope moving to streamline the firm's structure earlier this year amid a slew of criticism over a failed blockbuster $50bn (£39bn) bid for GSK's consumer health division late last year.

Unilever revealed yesterday that Trian's stake was 1.5 per cent, making Peltz's fund its fourth largest shareholder, according to Refinitiv data.

In a statement yesterday morning, Peltz said Unilever had "significant potential" and Trian had made a "considerable investment" in the firm.

Peltz has built a reputation as a specialist activist in consumer goods firms, having stepped down from the board of Procter & Gamble last year after overseeing a turnaround in the firm's fortune and an 85 per cent surge in its share price.

His stake in Unilever was revealed in January amid a period of intense pressure for boss Jope, who had come under fire from high profile investors for a flagging share price.

The news sent Unilever shares up over eight per cent yesterday.

(c) 2022 City A.M., source Newspaper