Nelson Peltz to Join Board of Unilever

Nelson Peltz, U.S. founder, and chief executive officer of Trian Fund Management, has increased its stake in Unilever since January amid growing speculation that it will put pressure on Dove soap and Marmite makers to shake their vast business. 

Unilever's share price rose after consumer goods companies announced that billionaire activist investor Nelson Peltz would become a board member. His $7.4 billion investment company has previously conducted activist campaigns with Unilever rivals such as Procter & Gamble, Heinz, and Mondelez. He has joined the boards of both companies but has now relinquished these roles.

Investors responded positively, with Unilever's share price rising more than 7% to £37.45 in the early stages of trading, making it the largest riser on the FTSE 100. As a result, the company's stock price rose from its lowest in five years in March.

Peltz will also serve on Unilever's Compensation Committee when his appointment comes into force on July 20 and will speak directly about the compensation of directors, including Jope.

In Unilever's statement, Peltz said, "Unilever believes it is a company with great potential,  leveraging its strong consumer brand and portfolio of geographic footprints."