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

Dillon Eustace: The Advantages of ICAVs

Feb 11 2016 | 7:51pm ET

As the growth of alternative investment vehicles continues, global asset managers...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...