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PPG INVESTOR EXITS AFTER ATTEMPTS FOR CHANGES REBUFFED

Nov 16, 2019 - Pittsburgh Post-Gazette

New York-based Trian Fund Management has divested its shares in PPG, ending a tumultuous relationship in which the Pittsburgh-based coatings giant had resisted Trian's push for changes in leadership and strategy.

Trian first disclosed a position in PPG in the second quarter of 2018. By the end of that year, the fund held more than 7 million shares, or nearly 3% of the coatings company's outstanding stock.

On its website, Trian officials said they'd invested in PPG "because we believe...