Trian Partners Activist Presentation Deck
Volume Growth Continues to Trail Peers
Average Volume Growth During
David Taylor's Tenure (Q2 '16 - Q4 '17)
Clorox(1)
Church & Dwight
Henkel
Kimberly-Clark
Unilever
P&G
Colgate-Palmolive (2)
Peer Average ex. P&G
Note: Reckitt Benckiser, Edgewell, L'Oreal, and
Beiersdorf do not disclose volumes publicly
100%
2011
Indexed Organic Volume Growth: FY 2011 – FY 2017
103%
100%
2012
4.0%
3.6%
2.7%
2.1%
1.4%
1.1%
0.6%
2.4%
107%
102%
2013
110%
(1) Clorox volumes adjusted to exclude impact from acquisitions and divestitures.
(2) Colgate-Palmolive "volume" is reported as volume and mix.
105%
2014
112%
104%
2015
116%
103%
2016
P&G
Peers
117%
105%
2017
P&G under-
performed by
1,200bps
Source: SEC filings and annual reports.
Note: Excludes Reckitt Benckiser, Edgewell Personal Care, L'Oreal Consumer Products and Beiersdorf Consumer due to lack of volume disclosure. For comparability Unilever figures represent volumes ex. the
Food segment; Henkel figures represent volumes ex. the Adhesives segment; Colgate-Palmolive figures represent volumes ex. the Pet segment; and Kimberly-Clark figures represent volumes ex. the
Professional segment.
- 22-View entire presentation