Pentair, with branches in North and South America, is set to ask shareholders to appoint Trian Fund Management LP (Trian) Chief Investment Officer, Ed Garden, to its Board of Directors. This is less than a month after the company struck a $1.8 billion acquisition deal amid pressure from the Trian activist investor.
Pentair, a global manufacturer of valves, pipes and pumps used in the energy, agriculture, infrastructure and food sectors, said it will recommend that its shareholders approve a resolution to appoint Ed Garden at its 2016 annual meeting. Until the meeting, Mr. Garden will be able to attend and participate in Pentair’s board meetings in a non-voting role.