- Nelson Peltz, an activist investor and founder of Trian Fund Management, has gone on the offensive, proposing that PepsiCo should let go of its beverage unit and buy Mondelez to focus on the snack food empire that would include Cheetos, Doritos, Oreos and Cadbury chocolates under one roof.
- Peltz, who said the Mondelez name "sounds like a disease," is urging shareholders to support his proposal, which he refers to as "Plan A," and intends to personally present to Mondelez CEO Irene Rosenfeld soon.
- Peltz previously organized an investor group, which pushed Cadbury Schweppes to ditch its beverage interests, leading to the formation of Dr Pepper Snapple Group Inc.
From the article:
... The proposals by Peltz highlight the pressures PepsiCo has been under to improve results in its beverage unit. The company, based in Purchase, N.Y., has significantly stepped up marketing for its flagship soda. It signed a wide-ranging deal with pop star Beyonce, as well as a multi-year contract to sponsor the Super Bowl. But the efforts have yet to pay off, with sales volume in North America remaining a drag on the company. ...