HJ Heinz today (31 July) took out full-page colour adverts in the Wall Street, the New York Times, the Pittsburgh Post Gazette and the Pittsburgh Tribune Review in an effort to win shareholder support during the proxy battle between the food company’s management and dissident investors.
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Shareholders will decide at the August AGM whether to elect five members of the Trian Group, lead by Nelson Peltz, onto Heinz’ 12-member board.
The advert said: “Heinz shareholders: we are listening and taking action. The choice for strong, sustainable value creation and for good corporate governance is obvious.”
“The Heinz Board is committed to an active and ongoing dialogue with all shareholders to ensure that we are delivering on our promises and are holding ourselves accountable.”
Michael Mullen, director of global corporate affairs, told just-food: “Heinz and everything our company stands for is under attack by a corporate raider. This ad is just one of the many tools we’re using to reach and inform shareholders as to why the White card is the right card for all Heinz shareholders in this crucial proxy fight.”
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