P&G Counts Board Vote Win As Peltz Claims 'Change' Message Delivered

Procter & Gamble says preliminary results keep billionaire activist investor Nelson Peltz off its board and re-elect its 11 incumbents. However, Peltz plans to challenge the vote outcome and analysts agree that his pressure for change at P&G scored points with shareholders.

Nelson Peltz says the slim margin of victory Procter & Gamble Co.hasclaimed over him in preliminary results of a board proxy fight indicates not only that shareholders sent a message to the firm, but that he still might prevail.

In remarks prior to and during P&G's shareholder meeting Oct. 10 in Cincinnati, Peltz said he expected the results would...

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