Unilever PLC said it would add Nelson Peltz to its board and disclosed his fund now holds a 1.5% stake, moves that ratchet up pressure on the maker of Dove soap and Hellmann’s mayonnaise to reinvigorate growth across its sprawling portfolio.
The investment, worth about $1.6 billion, makes Trian Fund Management LP one of Unilever’s largest shareholders. Mr. Peltz said Tuesday that Unilever had “significant potential” and that he wanted to work collaboratively with the company.
