Procter and Gamble names new board members

Procter and Gamble has announced the appointment of two new members to its board of directors.

Joseph Jimenez, chief executive officer of Novartis, will join the board on March 1st 2018, bringing with him the considerable industry experience he has accrued as the boss of one of the world's leading pharmaceutical companies since 2010.

During his tenure, he has helped to reshape Novartis through a series of complex transactions and put a new operating model in place to bolster the firm's efficiency, while sustaining investment in research and development.

Meanwhile, Nelson Peltz – chief executive officer and a founding partner of Trian Fund Management – will also join the board in March 2018, with Procter and Gamble committing to re-nominate Mr Peltz ahead of the 2018 annual meeting of shareholders.

Mr Peltz has been chief executive of Trian Fund Management since its establishment in November 2005, and also serves as non-executive chairman of Wendy's. Additionally, he is a director of Mondelez, Sysco and the Madison Square Garden Company.

David Taylor, Procter and Gamble's chairman, president and chief executive officer, hailed Mr Jimenez for his "distinguished track record of success in healthcare, consumer products and international businesses", while describing Mr Peltz as a "highly engaged shareowner and investor".

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