British consumer goods giant Unilever has said Trian Partners founder and CEO Nelson Peltz will join its board in a little over a month.

Peltz will join Unilever’s board and compensation committee on July 20, the company said on Tuesday in a morning statement, which was followed by a 7% jump in its London-listed stock. The move comes as Unilever is under pressure to reinvigorate its performance after a failed 50 billion pound ($63 billion) attempt to acquire the consumer healthcare business of GlaxoSmithKline earlier this year.

“We look forward to working collaboratively with management and the board to help drive Unilever’s strategy, operations, sustainability, and shareholder value,” Peltz said. Trian owns a 1.5% stake, according to the announcement.

The activist investor is known for his interest in consumer-oriented firms, previously pushing for several operational changes at Procter & Gamble, where he joined the board in late 2017 after a high profile and costly proxy contest. Peltz left the company’s board last fall. During his nearly four years of involvement, Procter & Gamble reorganized and saw earnings rise.

Unilever hopes the activist will help its business achieve similar results. “We have held extensive and constructive discussions with him and the Trian team and believe that Nelson’s experience in the global consumer goods industry will be of value to Unilever as we continue to drive the performance of our business,” said Unilever Chairman Nils Andersen.

The settlement comes as the number of board seats won by activists at U.K.-based companies has fallen significantly, according to data from Insightia’s Activism module. Before Peltz’s appointment, activists had won nine board seats, down from 20 at the same point in 2021. The number of settlements for board seats had more than halved.

Elsewhere, Trian is weighing a takeover bid for fast food company Wendy’s, where Peltz serves as chairman. The activist firm, which has a long history with Wendy’s, owns 19.4% of the stock and has four board seats in total.