{
  "docId": "019dd923-622b-71dc-a6db-268b3ad1b9df",
  "docSlug": "096232e3bb54",
  "documentTitle": "Campbell Soup Company (CPB)",
  "authorId": "05_Third_Point",
  "authorName": "Third Point",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2018-10-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2941177,
  "pageNumber": 13,
  "pageCount": 45,
  "prevPage": 12,
  "nextPage": 14,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "Uses a direct quote to undermine the credibility of the incumbent board.",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "quote_block",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-268b3ad1b9df/13",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-268b3ad1b9df",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-268b3ad1b9df.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-268b3ad1b9df#slide-13",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Incumbent Board, in their own words, has consistently failed Campbell shareholders",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-e6ec-7186-b7d1-7f5d4b8f3e03",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.44,
        "x": 0.28,
        "y": 0.08
      },
      "kind": "paragraph",
      "text": "Campbell Board member & interim CEO Keith McLoughlin",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0b3ed759-15dd-4050-b62f-2910bd5775d7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.75,
        "x": 0.04,
        "y": 0.14
      },
      "kind": "paragraph",
      "text": "Incumbent Board, in their own words, has consistently failed Campbell shareholders",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a20446f9-c403-4a3a-8786-bfe914695fbc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.48,
        "w": 0.76,
        "x": 0.12,
        "y": 0.26
      },
      "kind": "quote",
      "text": "Simply put we lost focus. We lost focus strategically... We lost focus within our products and brands... Lastly we lost focus in process and execution... And finally we didn't have a culture of accountability which led to poor execution.",
      "attrs": null,
      "subkind": "pull-quote",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4d672653-020a-4519-af93-2409a81b402b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "Simply put we lost focus. We lost focus strategically. We had too many initiatives that made the company unnecessarily complex... We lost focus within our products and brands... Lastly we lost focus in process and execution... And finally we didn't have a culture of accountability which led to poor execution. — Campbell Board member & interim CEO Keith McLoughlin",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd952-e6ec-7186-b7d1-835517f42615",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.32,
        "x": 0.04,
        "y": 0.87
      },
      "kind": "source-note",
      "text": "Note: Campbell's comment from fiscal 4q18 earnings call (8.30.18) Source: Emphasis from Third Point LLC; Company Materials",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9ed56258-9a31-4b2e-833b-4840e7980ec4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.35,
        "x": 0.04,
        "y": 0.07
      },
      "kind": "title",
      "text": "HOW DID WE GET HERE?",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f7c3358e-50a4-4b44-a3cb-3d832f2cccfc",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "3b797873-f423-4961-be22-15d403dca0f2",
      "evidence": "Using the CEO's own words to highlight failure and justify activist intervention.",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 27,
      "from": 11,
      "beatId": "41ed04a5-af78-4994-80a3-a8f798d30d4a",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Monster",
      "beatSlug": "overcoming-monster-the-monster",
      "evidence": "Detailed critique of the incumbent Board's failures",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Hook",
      "parentBeatSlug": "hook"
    }
  ],
  "loops": [
    {
      "to": 27,
      "from": 11,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "56596c03-3ada-4349-9cb5-c74ec489fcc6",
      "evidence": "The deck highlights the consequences of the incumbent Board's failures",
      "position": 0,
      "objective": "What is the cost of inaction in addressing Campbell's mismanagement?",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.7,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}