NEW YORK (AP) — Activist investor Nelson Peltz says that an independent vote count shows he actually won election to Procter & Gamble's board of directors in contrast to what the company announced last month.
Procter & Gamble's stock rose 3 percent Wednesday in extended trading after Peltz's Trian Fund Management issued a statement on the new vote count.
Trian urged Procter & Gamble to accept the new count and add Peltz to the consumer products giant's board. Trian owns about $3.5 billion in P&G shares and has urged the company to streamline its corporate structure and cut costs.
Cincinnati-based Procter & Gamble Co. said the latest count shows Peltz with a slim lead, but the results are still preliminary and could be challenged.