Former exec sold nearly $50M in Procter & Gamble stock – Cincinnati.com

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Founded in 2005, New York City-based Trian Fund Management says it “seeks to invest in high quality but undervalued and under-performing public companies and to work constructively with the management and boards of those companies.” What this will mean for Cincinnati-based P&G isn’t clear. Wochit

 

 

Former P&G chief financial officer Clayton Daley has sold nearly $50 million worth of stock since December 2015, government filings show.

In the 18 months before joining forces with hedge fund boss Nelson Peltz, Daley has been unloading tens of thousands of P&G shares at a time, ultimately selling off more than 577,000 shares. The disclosures don’t specify whether the transactions were straight stock sales or related to the cashing out of options.

Daley still remains a significant shareholder with stock and options on 672,000 shares worth more than $60 million, according to proxies filed by Peltz’s Trian Fund Management.

Last week, the fund revealed it has hired Daley as a consultant in Peltz’s bid for a seat on P&G’s board of directors. Daley served as P&G’s top financial executive from 1998 until his retirement in 2009.

More: Surviving P&G: Vets describe a company in turnaround

Daley was a key executive overseeing its finances and related strategy. His tenure included a successful turnaround of P&G early in the Millennium.

Since leaving P&G, Daley served as an advisor to TPG Capital from 2010 until 2012, a board director for  Starwood Hotels and Resorts, Foster Wheeler AG, Nucor Corp., SunEdison and The Simply Good Foods Co. He currently serves as a business consultant in Longboat Key, Florida.

 

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