Don’t get Procter & Gamble CEO David Taylor wrong: He likes Nelson Peltz just fine. Respects the hell out of him. Frankly, thinks that he’s got some good ideas and some good folks around him. It’s just that, well, Taylor already had those ideas, and he’s got some pretty good people around him, too, if he does say so himself. And that just means, unfortunately, there’s just no room for his seventh-largest shareholder and his entourage at the table right now. Sorry. Happy to keep taking the calls, though.
Mr. Peltz “hasn’t offered incremental thoughts that we haven’t considered,” Mr. Taylor said, “and there’s a history of establishing a shadow management team which we believe firmly would derail the work that is already delivering improvement.”
"The fact that he has good advice doesn't mean we just add him to the board," Taylor said.