Activist investor Nelson Peltz trims stake in Marmite-owner Unilever
Unilever sell-off: Train Fund Management is run by feared activist investor Nelson Peltz
A feared New York activist has trimmed his stake in British consumer goods firm Unilever.
Investment giant Train Fund Management, run by Nelson Peltz, has sold around 3.8m shares for nearly £181million, according to a regulatory filing.
Peltz, who is on the board of Unilever, had a 1.47 per cent stake or 36.6m shares in the owner of Dove soap and Marmite, worth about £1.4billion.
He now holds about 32.6m shares.
Peltz’s hedge fund started building a stake in Unilever in early 2022 and he joined the board in May that year.
Unilever shares have gained nearly 30 per cent since Trian’s stake was made public in 2022, and are up more than 23 per cent this year, rallying last month after the upbeat results for the first half.
Trian sold small stakes for ‘portfolio management purposes.
Peltz endorsed Hein Schumacher as chief executive in 2023.
In his first year, Schumacher has overseen plans to spin off the ice cream business, lay off up to 7,500 staff, and focus on 30 brands to reverse years of underperformance.
The shares rose 0.4p, or 21p, to 4747p.
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