Nelson Peltz Says Heinz CEO Bill Johnson is Likely to Stay

Loading...
Loading...
During an interview with CNBC this morning, Trian Fund Management CEO Nelson Peltz said that as far as the board is concerned, "There have been no discussion of compensation" changes to H. J. Heinz Company
HNZ
chief executive William Johnson.
Heinz announced this morning that it
will be acquired
by Berkshire Hathaway
BRKBRK
and 3G Capital for $72.50 per share. The deal is valued at $28 billion, making it the world's largest acquisition within the food industry. "I'm very proud to have played a very small part in the success of Heinz," Peltz, who invested in Heinz in 2005, told CNBC. He famously got into a
heated proxy fight
as he attempted to bring change to the company. He also took Johnson to dinner just to reveal that he was
joining Heinz's Board of Directors
Loading...
Loading...
. With regard to some of his other investments, Peltz told CNBC that Trian is not a stock market buyer, "We're buyers of the few companies we like." He said that Family Dollar Stores
FDO
, which has enjoyed same-store increases for more than 20 years, has been a "great investment for us." Finally, Peltz commented on the challenges ahead. "We could do better if Washington would get out of the way," said Peltz. He is taking it in stride though -- he said that he and most other CEOs in America understand that this is the situation they have for the next four years and they are going to push forward.
Follow me @LouisBedigianBZ
Loading...
Loading...
Market News and Data brought to you by Benzinga APIs
Posted In: CNBCLong IdeasNewsShort IdeasHedge FundsManagementSuccess StoriesMediaTrading IdeasGeneralheinzNelson PeltzTrian Fund ManagementWilliam Johnson
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...