E.I. du Pont de Nemours and Company (DuPont) (DD)

Nelson Peltz · 2015-04
arc beats above · slides in the middle · loops below · scroll → 3 LOOPS
SETUP TENSION ANALYSIS EVIDENCE RESOLUTION APPENDIX
HOVER FOR DETAILS · CLICK A SLIDE FOR FULLSCREEN · STEP 5
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Deck intelligence map

5
coverage by narrative range · generated from this deck JSON

Slide inventory

88
every slide · same image gating as the playbook
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Slide 1
front_matter
Open slide detailBeat · Hook
02
Includes contact information for proxy solicitor MacKenzie Partners.other
Open slide detailBeat · Hook
03
other
Open slide detailBeat · Hook
04
transition
Open slide detailBeat · Hook
05
The slide uses a logo grid to demonstrate historical investment influence, specifically highlighting board representation.summarize
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summarize
07
Includes an alternate nominee section at the bottom.introduce_nominees
08
The table uses checkmarks to indicate that all nominees possess the listed skills, with one exception (Board Experience for Robert).introduce_nominees
09
Includes a callout box highlighting potential upside from excess cost reduction.summarize
10
Uses the 'put money where mouth is' trope to frame the CEO's actions as hypocritical.expose_contradiction
Open slide detailLoop · Iceberg
11
transition
Open slide detailBeat · ComplicationLoop · Iceberg
12
Uses a dual-axis chart to overlay stock price (line) and EPS (red line with points) to show divergence.expose_contradiction
Open slide detailBeat · ComplicationLoop · Iceberg
13
The slide highlights a recurring pattern of management missing guidance despite Q1 beats.analyze_data
Open slide detailBeat · ComplicationLoop · Iceberg
14
Uses a waterfall-bridge framework to reconcile EPS figures.show_valuation_bridge
Open slide detailBeat · ComplicationLoop · Iceberg
15
Trian Portfolio Company (IR) is highlighted in green; DuPont (DD) is highlighted in red.compare_peers
Open slide detailBeat · ComplicationLoop · Iceberg
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DuPont is highlighted in red boxes across all three charts to emphasize its underperformance relative to peers.compare_peers
Open slide detailBeat · ComplicationLoop · Iceberg
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The slide uses a line chart with annotations of key corporate events to contrast management's stated strategy with actual stock performance.expose_contradiction
Open slide detailBeat · ComplicationLoop · Iceberg
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transition
Open slide detailBeat · ComplicationLoop · Iceberg
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The slide uses bar charts to contrast DuPont's actual performance against 2011/2013 targets and specific peer benchmarks.compare_peers
Open slide detailBeat · ComplicationLoop · Iceberg
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The slide uses a comparison frame to highlight underperformance in specific business units.compare_peers
Open slide detailBeat · ComplicationLoop · Iceberg
21
state_demand
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
22
Uses a combination of bar and line charts to demonstrate stagnant growth and margin reliance on external factors.expose_contradiction
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
23
Uses a red dashed box to group the 'unproven' segments, contrasting them with the 'proven' Agriculture segment.expose_contradiction
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
24
Uses a before-after-bridge style comparison to highlight the discrepancy in EBITDA reporting between DuPont and the new owners.expose_contradiction
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
25
Uses a combination of a bar chart for growth comparisons and a line chart for margin performance to demonstrate value destruction.expose_contradiction
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
26
Uses a process-flow diagram to contrast input (R&D spend) with output (negative results).expose_contradiction
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
27
Uses a combination of bar charts and a table to demonstrate value destruction.expose_contradiction
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
28
Uses a visual 'not equal' sign to emphasize the discrepancy between corporate and individual performance ratings.expose_contradiction
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
29
Uses a comparison table structure to link governance mechanisms to their negative impacts on shareholders.expose_contradiction
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
30
The slide uses a mix of rhetorical questioning and industry trend data to challenge current board composition.diagnose_problem
Open slide detailBeat · Problem & ComplicationLoop · Cost Of Inaction
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transition
Open slide detailBeat · EvidenceLoop · Quick Win Big Bet
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summarize
Open slide detailBeat · EvidenceLoop · Quick Win Big Bet
33
Uses a classic 'Rhetoric vs. Reality' table structure to undermine management credibility.expose_contradiction
Open slide detailBeat · EvidenceLoop · Quick Win Big Bet
34
This is a classic activist 'villain' slide, framing management as deceptive and the Board as incompetent or uninformed.expose_contradiction
Open slide detailBeat · EvidenceLoop · Quick Win Big Bet
35
The slide uses a table to highlight the lack of transparency in financial reporting.expose_contradiction
Open slide detailBeat · EvidenceLoop · Quick Win Big Bet
36
Uses a callout box to frame the contradiction as a governance failure.expose_contradiction
Open slide detailBeat · EvidenceLoop · Quick Win Big Bet
37
The slide uses a numbered list format to present evidence of financial reporting manipulation.expose_contradiction
Open slide detailBeat · EvidenceLoop · Quick Win Big Bet
38
This is a classic activist 'before/after/remaining' table used to justify the need for further intervention.expose_contradiction
Open slide detailBeat · EvidenceLoop · Quick Win Big Bet
39
The slide uses a preemptive rebuttal strategy to counter the 'intrusive' narrative by citing specific historical relationships.preempt_rebuttal
Open slide detailBeat · EvidenceLoop · Quick Win Big Bet
40
The slide uses a bar chart to demonstrate performance improvement, framing Trian's involvement as the catalyst for growth.summarize
Open slide detailBeat · EvidenceLoop · Quick Win Big Bet
41
The slide uses a table to demonstrate historical investment success, specifically highlighting board representation.compare_peers
42
front_matter
Open slide detailBeat · Climax
43
appendix
Open slide detailBeat · Climax
44
Includes a column of logos of companies associated with Peltz's career.introduce_nominees
Open slide detailBeat · Climax
45
The slide uses a checkmark column to visually reinforce the 'significant experience' claim for each category.introduce_nominees
Open slide detailBeat · Climax
46
Includes a disclaimer regarding past performance and a 'Vote the Gold Proxy Card' footer.cite_precedent
Open slide detailBeat · Climax
47
Includes a disclaimer regarding the use of this case study as an example of investment process.illustrate_case
Open slide detailBeat · Climax
48
Includes a testimonial from Emil J. Brolick.cite_precedent
Open slide detailBeat · Climax
49
Includes a disclaimer regarding the nature of the case study and specific financial definitions.cite_precedent
Open slide detailBeat · Climax
50
introduce_nominees
Open slide detailBeat · Climax
51
The slide uses a checkmark column to visually validate each competency area.introduce_nominees
52
Includes a bar chart showing AUM growth from $58bn to $200bn over a decade.cite_precedent
53
introduce_nominees
54
introduce_nominees
55
Includes a disclaimer regarding the illustrative nature of the case study.cite_precedent
56
introduce_nominees
57
introduce_nominees
58
The slide uses a before-after comparison of valuation multiples and performance metrics to justify a specific activist thesis.illustrate_case
59
introduce_nominees
61
The slide uses a numbered list to rank performance days and contrasts Trian-driven events with macro-driven events.cite_precedent
62
The slide uses a side-by-side comparison to argue that management's core activities have failed to create value.expose_contradiction
63
The table tracks stock price changes on the day following earnings events to demonstrate market reaction.analyze_data
64
The table shows negative cumulative stock performance following major announcements.analyze_data
66
The slide uses a testimonial to build credibility for the activist's track record.illustrate_case
67
The slide uses a quote to preemptively address concerns about capex reduction.illustrate_case
68
The slide uses a quote to build credibility for Trian's activist strategy.illustrate_case
69
Trian Partners activist deck slide.other
70
The slide uses a Trian Partners branded background and includes a call-to-action at the bottom.illustrate_case
71
illustrate_case
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The slide uses a quote to build credibility for the nominee.other
73
summarize
74
The slide uses a Trian Partners branded background with a pull-quote format.summarize
75
The slide uses a quote to validate the activist's track record in corporate governance.illustrate_case
76
cite_precedent
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The slide uses a Trian Partners branded background with a pull-quote format.illustrate_case
78
cite_precedent
79
The slide uses a Trian Partners branded background and includes a call to action at the bottom.illustrate_case
80
The slide uses a testimonial/quote to validate the activist's thesis.illustrate_case
81
illustrate_case
82
Uses Trian Partners branding and campaign slogan.illustrate_case
83
The slide uses a quote to establish credibility and counter the 'short-term activist' narrative.cite_precedent
85
Uses two distinct valuation-style build-ups to extrapolate corporate cost savings.analyze_data
86
Uses a 'preempt_rebuttal' strategy by adopting the opponent's logic to prove the activist's point.preempt_rebuttal
87
The slide uses a numbered list to detail six specific areas of operational improvement, supported by footnotes referencing SEC filings and research reports.summarize
88
front_matter