Business Services Industry
Heinz finds Peltz's Australian flavour on the nose.
Australasian Business Intelligence, May, 2006
May 25, 2006 (The Age - ABIX via COMTEX) -- James Packer's Consolidated Press Holdings (CPH) is one of Nelson Peltz's supporters in 2006. Peltz hopes to reduce HJ Heinz's annual costs by $US575 million ($A764 million) annually, starting with the appointment of five new board members. Heinz, which has lost almost 25 per cent of its share price value in the five years to 2006, has released a statement that Peltz's five nominees are not sufficiently qualified or independent to gain board roles. The chairman and CEO of Triarc Companies, Peltz holds a 5.4 per cent Heinz stake.
Publication Date: 26 May 2006
HJ HEINZ COMPANY
HJ HEINZ COMPANY AUSTRALIA LIMITED
TRIARC COMPANIES INCORPORATED
CONSOLIDATED PRESS HOLDINGS LIMITED
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