Peltz joins Ingersoll-Rand board

Ingersoll-Rand named Nelson Peltz to its board yesterday, months after the activist investor pushed for changes at the manufacturer of air conditioners and security systems. The move averts a potential proxy fight between Ingersoll and Peltz, whose Trian Fund Management holds a seven per cent stake in the company. Ingersoll has said it is evaluating a number of strategic options, including those put forth by Peltz.