In a move to appease one of its biggest investors, Procter & Gamble executives said that they are in "ongoing, constructive, active talks" with Trian Fund about the future of its brands. P&G Chairman and CEO David Taylor told CNBC that he is willing to take ideas from the hedge fund about how to improve its business.
Taylor also says P&G continues to work on its plan to cut $10 billion in costs through productivity improvements, including reducing overhead costs and the costs of goods sold, marketing and media buying, but as for questions about whether P&G should break up into smaller companies, he says that its scale helps it many ways.
Trian has been increasing its stake in P&G, and an SEC filing last month showed it held more than 36 million shares.