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  "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",
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  "pageNumber": 25,
  "pageCount": 45,
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  "slideType": "problem_statement",
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  "density": "balanced",
  "nDataPoints": 10,
  "notes": "The slide uses a red color scheme to emphasize the negative trend in ROIC.",
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      "kind": "callout",
      "text": "Shareholders have endured substantial declines in ROIC under the incumbent Board",
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      "kind": "chart",
      "text": "Return on Invested Capital, %",
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      "kind": "metric",
      "text": "Return on Invested Capital: 8.5%",
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      "kind": "source-note",
      "text": "Note: Return on Invested Capital defined as Adj. EBIT (per Company) less 25% tax rate (per Company FY19 guidance), divided by average invested capital (per Bloomberg); same tax rate used across all periods for “apples-to-apples” comparison; FY19e based on mid-point of management guidance pre divestitures ($1.37-1.41b) and year-end FY18 invested capital (per Bloomberg)\nSource: Third Point LLC; Bloomberg",
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      "kind": "title",
      "text": "Poor capital allocation and declines in the core business have combined to weigh on returns",
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      "kind": "title",
      "text": "RETURN ON INVESTED CAPITAL",
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      "arcName": "Overcoming the Monster",
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      "beatName": "The Monster",
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      "name": "Cost Of Inaction",
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      "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",
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      "description": "Quantify what happens if the audience does nothing"
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