Janus Henderson board reshuffle

Ed Garden will exit the Janus Henderson board and will be replaced by Trian Fund Management colleague Josh Frank.

Garden, a partner at the activist fund led by billionaire Nelson Peltz, will retire as chief investment officer after 18 years and focus on managing his family office while also serving as an adviser to Trian.

Trian and Peltz are well known for their activist campaigns, most recently targeting Disney. Other companies Trian has engaged with include Procter & Gamble, H.J. Heinz, Dupont and General Electric.

The incoming director Frank is Peltz's son and will replace Garden as chief investment officer, although he will share the role with his brother.

Frank has been a member of Trian's investment team since its inception in 2005.

He also served as a director of Sysco Corporation for six years to 2021.

Earlier, Frank worked in corporate development at Triarc Companies.

Before joining Triarc, he worked at Credit Suisse First Boston in mergers & acquisitions and healthcare investment banking groups.

Janus Henderson chair John Cassaday thanked Garden for his contribution.

"While we are sorry to lose his helpful insights, we are delighted to welcome Josh as an independent director on the board. Josh is an extremely well-regarded leader in corporate strategy development and corporate governance, and his breadth and depth of experience will be invaluable in helping guide and position Janus Henderson for future success."

Garden expressed his strong support for the Janus management team, newly defined strategy, cost-efficiency program, and r refreshed board, which will now include two of his former partners at Trian.

"I will be leaving the board confident in the company's business momentum and long-term strategy and believe the company is well-positioned to help clients define and achieve their desired investment outcomes while delivering significant long-term shareholder value."

Trian has a 20 per cent stake in Janus Henderson.