Peltz is CEO and a founding partner of Trian Fund Management, an investment management firm. He has previously served on the boards of several major global consumer goods companies, including The Procter and Gamble Company, H.J. Heinz Company and Mondelēz International.
According to The Times, Peltz has built a 1.5% stake in the consumer goods group through his Trian fund and has increased shares by 7% in early trading on Tuesday (May 31).
Nils Andersen, chair of Unilever, said: “We are pleased to be welcoming Nelson to the Unilever Board. We have held extensive and constructive discussions with him and the Trian team and believe that Nelson’s experience in the global consumer goods industry will be of value to Unilever as we continue to drive the performance of our business.
“We look forward to working closely together to create long term sustainable value for our shareholders and wider stakeholders.”
Peltz added: “I am delighted to be joining the board of Unilever. We believe it is a company with significant potential, through leveraging its portfolio of strong consumer brands and its geographical footprint.
“Trian has made a considerable investment in Unilever. We look forward to working collaboratively with management and the board to help drive Unilever’s strategy, operations, sustainability, and shareholder value for the benefit of all stakeholders.”