By  on December 15, 2017

After many months of fighting, Nelson Peltz is getting a seat on the Procter & Gamble board.The news dropped Friday evening, and Peltz is expected to officially join the board March 1.“We respect Nelson Peltz as a highly engaged shareowner and investor, and look forward to his contributions as a member of P&G’s Board,” said David S. Taylor, P&G’s chairman, president and chief executive officer. “We have had constructive discussions with Nelson and we are committed to working together for the best interests of all P&G shareholders.”

Taylor issued an open letter to shareholders Friday, saying that the company and Peltz both agreed to certain things, like not substantially reducing research and development spending, not breaking up the company and not moving P&G out of Cincinnati, and had "committed to work together with Mr. Peltz for the best interests of all shareholders."

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