Activist Peltz leaving Mondelez board to join P&Gâs
Nelson Peltz
Billionaire activist investor Nelson Peltz  is swapping one board position for another.
Oreo-maker Mondelez announced Tuesday that  Peltz  would be stepping down from the board effective March 1 â which also happens to be the day  he  is set to join Procter & Gambleâs board.
The move allows  Peltz   founder of $17 billion hedge fund Trian Partners  to âdevote more time to other board commitments â Mondelez said Tuesday.
Mondelez âis well positioned to continue to create value for its shareholders â  Peltz  said.
 Peltz   meanwhile  joins P&Gâs board following a contentious proxy battle with numerous vote recounts.
Although the final tally showed that  Peltz  failed to win a majority  the closeness of the vote led P&G to award  him  a spot on the board in December.
[TGT] is swapping one board position for another.
Oreo-maker Mondelez announced Tuesday that   [TGT] would be stepping down from the board effective March 1 â which also happens to be the day   [TGT]   is set to join Procter & Gambleâs board.
The move allows  Peltz   founder of $17 billion hedge fund Trian Partners  to âdevote more time to other board commitments â Mondelez said Tuesday.
Mondelez âis well positioned to continue to create value for its shareholders â   [TGT] said.
  [TGT] meanwhile  joins P&Gâs board following a contentious proxy battle with numerous vote recounts.
Although the final tally showed that   [TGT] failed to win a majority  the closeness of the vote led P&G to award  him  a spot on the board in December.