New York (HedgeCo.net) – $703 billion global asset management firm, Legg Mason, announced today that an outstanding shareholder, hedge fund manager Nelson Peltz, will be elected to the Company\u2019s Board of Directors,<\/p>\n
Peltz is Chief Executive Officer and a founding partner of hedge fund Trian Fund Management, L.P., which owns 6,946,756 shares, or approximately 4.3% of Legg Mason\u2019s outstanding common stock.<\/p>\n
“Over the past several months, my colleagues and I have been engaged in constructive dialogue with Mark Fetting and other members of the Legg Mason management team.” Peltz commented, “We share their view that Legg Mason\u2019s recent strategic initiatives are improving the Company\u2019s operating performance and I look forward to contributing as a Board member and working with the management team and the Board to help this great company achieve its full potential.\u201d<\/p>\n
The addition of\u00a0 Peltz to the Board reflects an agreement between Legg Mason and Trian Fund Management, L.P., certain funds managed by it and certain of its affiliates. In addition, pursuant to the agreement, Trian Partners has agreed to vote its shares in favor of Legg Mason\u2019s director nominees as provided in the agreement and made certain other commitments.<\/p>\n
Alex Akesson New York (HedgeCo.net) – $703 billion global asset management firm, Legg Mason, announced today that an outstanding shareholder, hedge fund manager Nelson Peltz, will be elected to the Company\u2019s Board of Directors, Peltz is Chief Executive Officer and a founding […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[1004,1559,5390,8207,5139,11708,15991],"class_list":["post-12666","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news","tag-accredited-investors","tag-asset-management-firm","tag-chief-executive-officer","tag-funds-hedge","tag-global-asset-management","tag-hedge-funds","tag-trian-fund-management"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/12666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=12666"}],"version-history":[{"count":3,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/12666\/revisions"}],"predecessor-version":[{"id":12668,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/12666\/revisions\/12668"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=12666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=12666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=12666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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