P&G Board Recommends Shareholders Vote For Its Directors - Quick Facts

(RTTNews) - The Procter & Gamble Company (PG) announced its Board has recommended shareholders to vote for all of the company's Directors at the annual meeting to be held on October 10, 2017. The company also issued a statement in response to the report issued by Glass Lewis & Co. regarding the election of directors. The P&G Board has concluded that Nelson Peltz is not the right director for the company.

P&G noted that it has met or exceeded all of the company's going-in fiscal 2017 objectives: balanced top- and bottom-line growth, cash productivity and cash delivered to shareholders.

"We are disappointed that Glass Lewis failed to recognize the significant transformation that the P&G Board and management team are implementing for the benefit of all shareholders. We have the right plan, the right structure and the right team in place to continue to deliver results and shareholder value for the short-, mid- and long-term. We believe that now is not the time to risk derailing that progress," the company stated.