Trian Fund Management Reduces Stake in Unilever

Trian Fund Management, led by Nelson Peltz, sold 3.8 million shares in Unilever for nearly £181 million. The fund's stake is now at 32.6 million shares. Despite the sell-off, Trian looks forward to continuing its work with Unilever's board and management.

Nelson Peltz's Trian Fund Management sold about 3.8 million shares in British consumer goods giant Unilever for nearly £181 million, according to a Wednesday filing.

The fund, previously the No. 5 shareholder with a 1.47% stake, now holds around 32.6 million shares after the sale, as confirmed by a Trian spokesperson.

Trian began building its stake in Unilever in early 2022, with Peltz joining the board in May. Since Trian's involvement, Unilever's shares have seen a nearly 30% rise. The recent shares were sold for portfolio management purposes.

Unilever's new CEO, Hein Schumacher, appointed in 2023 with Peltz's endorsement, has initiated significant restructuring plans, including spinning off the ice cream business and laying off up to 7,500 staff. Unilever shares were slightly down at 47.10 pounds at 1332 GMT.

Trian remains committed to working with Unilever's board and management team, the spokesperson added. ($1 = £0.7785)

(With inputs from agencies.)