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The deadline for Proctor and Gamble (PG) - Get Procter & Gamble Company (The) Report shareholders to vote is drawing ever-closer, and P&G CEO David Taylor has made one last plea to all shareholders to vote to reject the restructuring proposed by activist investor Nelson Peltz.

Peltz's fund, Trian Fund Managment which maintains a significant stake in P&G, is urging investors to shake up the consumer goods conglomerate and boost the value of shares. But, Taylor could not disagree more with that view.

"Nelson Peltz would seek to fundamentally change the soul of our company," Taylor said to shareholders in a video on Monday. "He wants us to go to a holding company and three separate businesses. He said corporate R&D is a hobby, it's not a hobby. It's fundamental to our brands and the processes that make our brands."

He contended that Peltz's vision is wrong for both the near-term, and long-term of the company, and is not in the best interest of the employees, investors or the future of the P&G.

"He has also advocated small brands; he said big brands can't meet the needs of consumers, I couldn't disagree more," Taylor stated. "Our big brands are the best performing and the most trusted brands in most of our categories. There is a place for small brands in some categories and we'll pursue those. But, the core of our company is the leading brand in each of the categories in which we compete, in each of the countries in which we compete."

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Taylor pleaded with shareholders, saying this is not the time to restructure the company or try a new strategy.

"The time right now is to execute the plan that we have that's focused on the consumer, working with our customers, getting back to the excellence in every aspect of the business that we do."

If shares are held via the company plans, such as the P&G profit-sharing plan or 401k retirement plan, votes are due no later than 11:59 p.m. Wednesday, Oct. 4. If shares are held via a bank or brokerage firm, votes are due at the bank or brokerage firm no later than 11:59 p.m. Monday, Oct. 9.

Here is TheStreet's recent interview with P&G CEO David Taylor. 

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