Activist Investor Nelson Peltz to Be part of Unilever Board

Unilever PLC stated it will add Nelson Peltz to its board and disclosed his fund now holds a 1.5% stake, strikes that ratchet up strain on the maker of Dove cleaning soap and Hellmann’s mayonnaise to reinvigorate progress throughout its sprawling portfolio.

The funding, price about $1.6 billion, makes Trian Fund Administration LP one among Unilever’s largest shareholders. Mr. Peltz stated Tuesday that Unilever had “important potential” and that he wished to work collaboratively with the corporate.