(Reuters) -Unilever has named Nelson Peltz a member of its board on Tuesday as it talks strategy with American activist investor, who currently holds a 1.5% share in the company’s consumer goods giant.

Unilever, London (NYSE:), announced that Peltz would join the company as a director non-executive starting in July. He will also serve as a member on its compensation committee.

Peltz’s hedge funds Trian Fund Management, which represent 1.5% of British company Unilever shares was mentioned by the company.

Peltz stated that they look forward to working with the Board and management to drive Unilever’s strategy, operations and sustainability and to increase shareholder value.

The appointment came months after it was revealed that he owned a stake at Unilever.

Nils Andersen (Unilever Chair) stated, “We had many constructive and extensive discussions with him”

Unilever’s failed attempt to acquire GSK’s consumer business was a setback for the company.

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