Trian Partners Activist Presentation Deck
Navigating Changes in Consumer Tastes, Social Media and Technology Requires
External Experience
Given today's realities, with sweeping changes in technology, consumer preference and local
markets, P&G must supplement company "Lifers" in leadership positions with others who
have had senior-level experience with traditional CPG companies as well as smaller upstarts
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This is especially critical given P&G has significantly underperformed peers over the last
decade; we believe leaders with external experience will bring new ideas and accelerate the pace
of positive change across the company
As P&G has grown more matrixed over time, we also believe the skill-set and experiences
required to be successful have become different from the skills required to grow sales and
profits (e.g., managing internal process and politics vs. managing a business with maximum
personal accountability and empowerment)
While P&G has committed to hire more external managers, we believe the effort is half-hearted
and there is still a perspective that those individuals cannot be "too senior" or they will fail to
adapt to P&G's culture and politics. The one external hire in an operational role that P&G
continues to highlight, "Personal Health Care Vice President," is only responsible for the North
American piece of a category that is <5% of P&G's sales(¹)
Going forward, P&G's must encourage the hiring of leaders from the outside. More importantly,
P&G must ensure those outside leaders are accepted and can succeed within the company's
structure and culture
(1) Source: SEC filings, investor call transcripts, LinkedIn
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