Speaking to an audience of 1,200 Pittsburgh-area employees, Heinz CEO, chairman and president William R. Johnson has 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”.
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Trian is attempting to get five of its members elected to the board of 12 directors, having criticised the food group for its declining share price and alleged failure to return value to shareholders
Heinz has called for shareholders to support the current board and reject Trian’s nominees. Management is using the bottles of tomato ketchup to drive home its message. Shareholders can support the present board through the white proxy cards.
