Heinz boardroom battle

The long-running battle at Heinz, which reached its climax at yesterday’s AGM, has been acrimonious and disruptive but, writes David Robertson, Nelson Peltz’s attempt to place himself and nominees on the Heinz board has been a catalyst for change, leading to a recovery in the company’s share price.

Showdown in battle for Heinz

17 August 2006

US: Heinz claims victory in proxy battle

17 August 2006

A representative of Heinz told just-food today that early indications suggest that the Trian Group, led by activist investor Nelson Peltz, has failed in its attempt to get five nominees elected to the ketchup marker’s board. However, it seems that there is every possibility that at least one of Trian’s nominees was elected by shareholders at the company’s AGM yesterday (16 August).

US: Heinz talks-up outlook

10 August 2006

HJ Heinz has updated its first quarter outlook after what the company has described as “a very strong start to the fiscal year.” Heinz said it expects first quarter sales to increase by more than 7% on the back of a 5% increase in volume, thanks to new products and marketing.

US: Glass Lewis backs Peltz for Heinz board

9 August 2006

Glass, Lewis & Co., the institutional investment advisory company, has backed the appointment of dissident investor Nelson Peltz and one of his other nominees to the board of US food group HJ Heinz Company.

US: Trian and Heinz both claim support

4 August 2006

The ongoing battle between the board of US food group HJ Heinz Company and Trian, the shareholder group bidding to place five nominees on the Heinz board, continued yesterday (3 August), as both parties claimed support for their respective positions in the build-up to the company’s AGM this month.

US: Heinz accuses Trian of ‘misleading’ shareholders

3 August 2006

Heinz has accused the Train Group of “misleading” shareholders, providing a detailed list of ten statements that the company describes as inaccurate to support its claim.

US: Heinz board appeals for support from employees

19 July 2006

Speaking to an audience of 1,200 Pittsburgh-area employees, Heinz CEO, chairman and president William R. Johnson issued an update on the proxy contest between Trian and the ketchup maker’s current management and distributed ketchup bottles with a customised “white card is the right card label”.

US: Five directors targeted in Heinz proxy battle

13 July 2006

The war of words that has been raging between Heinz management and activist investors the Trian Group, led by Nelson Peltz, moved one step further yesterday (12 July) when Trian began mailing final proxies to more than 200,000 shareholders, asking them to vote for its nominees to replace five of Heinz’s 12 directors.

US: Heinz boardroom hots up as AGM approaches

11 July 2006

In the build-up to the group’s AGM, the boardroom battle at US food company HJ Heinz is hotting up. Yesterday (10 July) the company filed its definitive proxy statement with the Securities and Exchange Commission, urging shareholders to re-elect the current board of directors and reject the nominees of Nelson Peltz and the Trian Group which itself has contacted shareholders with its formal proposals.

US: Heinz report highlights innovation

3 July 2006

US food group HJ Heinz Company has published its Annual Report to Shareholders, entitled "Growth Through Innovation", which highlights the operations of the company’s Global Innovation and Quality Center outside Pittsburgh and other product development centres within the group.

US: Heinz digs in for proxy battle

29 June 2006

The war of words between HJ Heinz and the Trian Group, led by activist investor Nelson Peltz, heated up yesterday (28 June) when the ketchup manufacturer questioned Trian’s turnaround plan and highlighted its recent achievements in the latest of a string of filings with the Securities and Exchange Commission.