Proxy Adviser ISS Backs Activist Trian in Procter & Gamble Board Fight

By Sharon TerlepFeaturesDow Jones Newswires

The largest proxy-advisory firm is recommending Procter & Gamble Co. shareholders put activist investor Nelson Peltz on the board over the company's protests.

Institutional Shareholder Services Inc. on Friday said Mr. Peltz's extensive consumer-products experience could help P&G's board. Another proxy adviser, Glass Lewis & Co., came out in favor of Mr. Peltz last week.

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"While management undoubtedly deserves a longer runway to demonstrate durable results, there are several signs that the board could benefit from additional shareholder perspective and outside [consumer products goods] experience," ISS wrote in its report.

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(END) Dow Jones Newswires

September 29, 2017 15:26 ET (19:26 GMT)