Trian Partners Activist Presentation Deck
Confidential-Not for Reproduction or Distribution
Trian Has Developed Strong Relationships with Company Boards and Management
Teams Following Prior Proxy Contests
• Trian has been involved in three proxy contests(¹);
-(i) Heinz in 2006, (ii) DuPont in 2015; and (iii) P&G in 2017
. In all three, we heard substantially the same rhetoric from the companies and their
advisors prior to the proxy contest. However, management's views of Trian and Nelson
Peltz changed dramatically after we began to work with them to enhance shareholder value
- We subsequently developed strong and positive relationships with all three boards and
management teams
PRIOR
to Vote
Heinz
The company is at a key inflection point
and we cannot afford to let the Board
and management be diverted from our
progress and plan by creating a
dysfunctional and destabilizing
environment.
-Heinz, June 2006
I said to another CEO who had called
me and inquired about Nelson, that if I
were to form the board today, Nelson
would be one of the first Directors I'd
ask to serve because he is an insightful,
communicative, enthusiastic, energetic
and available Director."
AFTER
Trian
Involvement Bill Johnson, Heinz CEO, March
2008
QU PONT
Trian has chosen this path (a proxy
contest] with the potential to disrupt our
Company at a key stage of execution
against our plan
-DuPont Press Release, Jan 2015
1 have the highest regard for Nelson
Peltz and Ed Garden. Since becoming
CEO of DuPont, I have talked many
times with the Trian team and
appreciate their insights on strategy and
operations, as well as the collaborative
and productive manner in which they
have engaged with us."
-Ed Breen, DuPont CEO, July 2017
P&G
TP&G] is in the best position to continue
building a better Company without
adding Mr. Peltz to the Board. Now is
the time to focus on accelerating results,
and prevent anything from derailing the
work that is delivering improvement."
-David Taylor, P&G CEO August 1,
2017
"From day one, Nelson has been a
focused, colaborative member of P&G's
Board Working in concert, Nelson and
the Board have constructively provided
perspective and expertise to help me
and P&G's senior leaders navigate a
challenging external environment and
maintain long-term competitive
advantage for the benefit of many
stakeholders. I'm grateful for his service
and the collaborative partnership we've
developed over the past few years...
-David Taylor, P&G CEO, Aug 2021
Source SEC Eings and press releases
Note (1) Following the proxy contests. Nelson Peltz served on the Heinz Board from 09/15/06 to 00/07/13 and the P&G Board from 03/01/18 to 10/12/01.
-12-View entire presentation