New York (CNN Business) A shakeup may be in the works at Unilever, the consumer goods giant behind brands like Dove soap, Hellmann's mayonnaise and Vaseline. Unilever UL announced Monday that Nelson Peltz, one of the most influential corporate raiders on Wall Street, will join the company's board of directors and disclosed that Peltz's fund holds a 1.5% stake in Unilever. Procter & Gamble PG Mondelez MDLZ Wendy's WEN Peltz is an activist investor known for pushing under-performing companies to restructure, spin-off businesses and even break up. In the past, he has helped force changes at food and consumer giants such asandIt's not immediately clear what Peltz has planned for London-based Unilever, which has lagged rivals in recent years and made three failed bids to acquire GlaxoSmithKline's consumer health care business. In January, Unilever said it was cutting 1,500 management jobs around the world and simplifying its business structure.

Source: CNN May 31, 2022 22:49 UTC