Three US proxy voting firms are recommending that HJ Heinz shareholders approve a plan for dissident investor Nelson Peltz to join the board at the food group's annual meeting on Thursday.
Billionaire Peltz and his hedge fund Trian Group, which owns 5.5% of Heinz, have nominated five people to the 12-member board and are soliciting support to implement an aggressive growth plan. Trian has blamed Heinz chairman William Johnson and management for failing to increase shareholder value "despite numerous restructuring plans".