Friday, June 02, 2006

Don't play Peltz for your company

Regardless of how you feel about Nelson Peltz and his attempts to armchair-quarterback companies, you have to respect the foursome he could put together for a golf outing. The activist shareholder alerted the investment community this morning that he’s proceeding with efforts to put five associates on the board of foodservice supplier H.J. Heinz Co., including longtime partner Peter May and son-in-law Edward Gardner. In the process, Peltz revealed that there’s a new member of his posse: pro golfer Greg Norman, known during his competitive days as The Great White Shark. Reports of Peltz trying to buy rights to that title are totally unfounded.

Ditto for the suggestions that Peltz’s team plans to challenge executives on the links for control of their restaurant companies.

The final member of the nominee slate put forth by Peltz’s Trian Group would also be a welcome addition to any golfing party. He’s Michael F. Weinstein, the one-time CEO of Snapple, Royal Crown and Mistic. Who better to have in your outing than someone who appreciates having a beverage or two?

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