The Daily Telegraph

Mover and shaker The 79-year-old who profits from change

-

Nelson Peltz likes to do things his own way. Even at his daughter’s star-studded wedding to Brooklyn Beckham, the feared activist went against the grain.

While the groom’s party – including former England football captain David Beckham – splashed out on bespoke Dior suits, Peltz settled for an old tuxedo at the back of his wardrobe.

“There was literally dust on the suit,” his daughter told Vogue.

Now Peltz Snr has a bigger battle on his hands after taking a seat on the board of Unilever. The 79-yearold billionair­e has a history of agitating for major overhauls.

Peltz took a seat on Procter & Gamble’s board in 2017 and proposed to split the consumer goods company into independen­t operating units. He also criticised P&G’S ageing brands; a “suffocatin­g bureaucrac­y,”; shortterm thinking; and sluggish shareholde­r returns. While the campaign ultimately failed, analysts believe he will deploy similar tactics at Unilever.

Trian also launched a campaign to split Cadbury Schweppes into soft drinks and confection­ery units, which led to Kraft buying the chocolate maker. He was later a driving force behind splitting Kraft into Kraft Heinz and Mondelez.

Peltz, worth £1.4bn according to Forbes, has shown no signs of slowing down. He told CNBC last year he has a different view than “some of these old guys”.

“I’ve got 10 kids,” he said. “Their friends all hang around all the time. I have a different view of life. People my age, they say to the wife, ‘Honey, when are we having dinner tonight? Is it going to be 4pm or 4.30pm?’ That’s not my life.” Simon Foy

Newspapers in English

Newspapers from United Kingdom