Trian responds to shareholder claims of poor governance

Shareholders cited governance issues

clock • 3 min read
 A group representing 43.6% of TI1 shareholders called for an Extraordinary General Meeting
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A group representing 43.6% of TI1 shareholders called for an Extraordinary General Meeting

Investors in Trian Investors 1 Limited (TI1) have today (20 June) served a notice to the company’s board on the grounds of governance issues, calling for the removal of two of its directors.

Global Value Fund, Invesco, Janus Henderson Investors UK and Pelham Capital have called for an Extraordinary General Meeting of TI1 shareholders to vote on its proposals. Along with the removal of current board members Chris Sherwell, Simon Holden and Anita Rival, the group proposed two new directors, Robert Legget (independent) and Miles Staude (representing the committee) in their stead. Legget is managing director at Progressive Value Management Limited and Staude is manager of the Global Value Fund. Together, along with Aegon Asset Management UK, which allegedly "is supportive of ...

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