Peltz Gets Ingersoll Rand Board Seat

Aug 15 2012 | 10:07am ET

Activist hedge fund manager Nelson Peltz has joined the board of directors at Ingersoll Rand as the company moved to avoid a proxy fight.

Peltz's Trian Fund Management owns a 7% stake in the air conditioning and security systems maker, which it says should be restructured or broken up. It has also pushed to boost its operating margins and called for Ingersoll to take on debt to improve shareholder value.

Trian said it is evaluating those proposals and others, but that having Peltz on the board will not accelerate the process.

Peltz refused an offer to join the board in July, citing Ingersoll's plan to prevent him from calling an extraordinary general meeting. Ingersoll has dropped that restriction. Peltz will serve on Ingersoll's corporate governance and nominating and finance committees.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR