Trian Partners Activist Presentation Deck
Organize in a Way That Promotes Accountability (Cont'd)
▪ We believe P&G should organize into a lean holding company with 3 largely autonomous GBUS
1) Beauty, Grooming, & Health Care ($26bn revenue)
2) Fabric & Home Care ($21bn revenue)
3) Baby, Feminine & Family Care ($18bn revenue)
Strategy: Run like a series of smaller, connected companies to be faster moving and more locally adept
Each GBU will have regional leaders with full P&L ownership including sales, marketing, manufacturing,
distribution & logistics, G&A (excl. shared services), etc. Oversight at GBU level that includes global brand
management and R&D
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CEO oversees 3 GBU Presidents to ensure best-practices cross-GBU
HoldCo controls public company functions and costs
Back-office / shared services that are agreed to by GBU leaders
▪ A lean holding company structure with 3 GBUs will lead to faster growth by:
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Lean holding company ("HoldCo") corporate staff
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Creating accountability: Each GBU President will have full and clear control of the entire P&L
Reducing operational complexity: Allows P&G to operate as three smaller, more focused businesses while
preserving appropriate and logical synergies
Faster decision making: Speed and agility is not a luxury, but a matter of survival
Leaner cost structure: Empowers the GBUs by placing more resource decisions within the businesses
Understanding of local trends: Consumer preference is increasingly fragmented and local; must be served
in culturally relevant ways
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