Trian Fund: Five Alumni Of H.J. Heinz Board Send Letter To P&G Directors

(RTTNews) - Trian Fund Management, L.P. reported that five Alumni of the H.J. Heinz Company Board has sent a letter to Directors of The Procter & Gamble Company (PG), reflecting on their positive experience working with Nelson Peltz in the Heinz boardroom. Trian Fund noted that the five signatories of the letter are former Heinz directors Charles Bunch, Thomas Usher, Dennis Reilley, John Drosdick and Dean O'Hare - all of whom were members of the Heinz Board for the entirety of Nelson Peltz's tenure on the Board from 2006 through 2013.

"In 2006, Nelson Peltz joined the Board of H.J. Heinz Company following a long and hard-fought proxy contest. Like you, many of us had feared that Nelson's presence would disrupt the effectiveness of our Board process and derail the execution of our strategy. However, just the opposite proved true," the letter stated.

Founded in 2005 by Nelson Peltz, Ed Garden and Peter May, Trian Fund Management, L.P. is a shareowner that seeks to invest in high quality but undervalued and underperforming public companies and to work with management teams and boards of those companies to execute operational and strategic initiatives designed to drive long-term sustainable earnings growth.