Unilever shares rise after Nelson Peltz joins BoD

Tuesday, 31. May 2022 10:59

London-traded Unilever shares and its American depositary receipts were rising sharply on Tuesday after it became known that billionaire activist Nelson Peltz would join the board of Unilever.

Earlier, Nils Andersen, chair of Unilever, said the firm has held "extensive and constructive discussions" with Peltz and Trian and "believes that Nelson's experience in the global consumer goods industry will be of value to Unilever as we continue to drive the performance of our business." Peltz will join Unilever's board and become a member of its compensation committee beginning July 20.

Unilever shares traded in London were up 6.87% at 4:57 am ET, while American depositary receipts of Unilever rose 7.05% to go for $47.08 at the same time.

Related Links: Unilever plc
Author:
Baha Breaking News (BBN) / JG