Shareholders face an important decision regarding the future of their P&G investment. A New York hedge fund has nominated Nelson Peltz to stand for election at the upcoming Annual Meeting of Shareholders. We believe adding him to the Board would derail the very significant value creation progress we are making. P&G is on the right track and Mr. Peltz has offered no new actionable ideas to drive additional value beyond the continued successful execution of P&G’s ongoing transformation.
Our fiscal 2017 results demonstrate that the actions we have taken and the plan we have in place are working. Since the CEO transition on November 1, 2015, our team has delivered total shareholder return (“TSR”) that outperformed the S&P 500 and is well above the vast majority of peers selected by Trian throughout that same time period. Now is the time to build on our momentum and prevent anything from derailing the work that is delivering improvement.
*Market data as of August 9, 2017. P&G Peers per Trian include Beiersdorf, Church & Dwight, Clorox, Colgate-Palmolive, Edgewell Personal Care, Henkel, Kimberly-Clark, L’Oréal, Reckitt Benckiser, Unilever.
David Taylor, P&G Chairman, President & Chief Executive Officer