CakSTRS says intends to support nomination of Nelson Peltz to P&G board
CalSTRS Director of Corporate Governance Anne Sheehan made the following statement regarding the organization's intent to support the nomination of Nelson Peltz to the board of directors at Proctor & Gamble: "CalSTRS has expressed its intention to support Nelson Peltz, CEO and Founding Partner of Trian Fund Management, in his nomination to the Procter & Gamble board. CalSTRS holds close to 5.6 million shares of P&G stock valued at approximately $508M and has been an investor with Trian since April 2011. Mr. Peltz's experience in the consumer product space will add value to Proctor & Gamble's board and his significant stake in the company will bring an owner's perspective inside the boardroom. CalSTRS believes the addition of Mr. Peltz to the board is best for P&G, the CalSTRS fund and ultimately, the teachers of California."