Sonnenfeld Talks Peltz, P&G Proxy Fight

Yale School of Management senior associate dean for leadership studies Jeffrey Sonnenfeld appeared on CNBC’s “Fast Money Halftime Report” yesterday to discuss his recent interview with Chief Executive on the proxy fight between Procter & Gamble and Trian’s Nelson Peltz.

A proxy vote last week narrowly defeated Peltz’s effort to gain a seat on P&G’s board of directors, and Sonnenfeld believes that the high-profile victory for the company could serve as a rallying cry for boards to stand up and fight against minority activist investors, as opposed to settling before a proxy vote.

Sonnenfeld also questioned Peltz and Trian’s success rate, saying that many companies underperforming after two-year holdings with Trian.