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Unilever Gains 8% As Activist Investor Nelson Peltz To Join Board

Shares of Unilever PLC (UL) are gaining over 8% on Tuesday morning after the consumer goods company announced the appointment of Nelson Peltz as a non-executive director. The company also confirmed that Peltz's Trian Fund Management holds a roughly 1.5% stake in the company.

UL is currently trading at $47.92, up $3.94 or 8.96%, on the Nasdaq. The stock opened its trading at $46.80 after closing Friday's trading at $43.98. The stock has traded between $42.54 and $61.81 in the 52-week period.

Peltz, the CEO of Trian Fund Management, will join Unilever's board as a non-executive director in July, pledging to help boost the company's strategy, operations, sustainability, and shareholder value.

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