PROCTER & GAMBLE VERSUS NELSON PELTZ

The case uses the backdrop of a bitter battle between Nelson Peltz, the activist shareholder and founder of Trian Partners, and the management of Procter & Gamble. The battle focused on the future strategic direction of the company. While Nelson Peltz identified a host of concerns ranging from poor brand management and innovation failures to weak corporate governance and P&G's insular culture, the management of P&G countered that it had a sound strategy in place that it was executing and that the initial results were indeed quite positive. The case explores the major strategic questions that P&G confronts at the time of the battle. It offers a wealth of information about trends in the fast-moving consumer goods sector globally allowing for a nuanced discussion of strategic options available to competing firms. Combined with a discussion of management imperatives at P&G, the case provides the basis for the key decisions that the reader is expected to make regarding the proxy battle.