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  "documentTitle": "PepsiCo (PEP)",
  "authorId": "06_Trian_Partners",
  "authorName": "Nelson Peltz",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-02-19 00:00:00",
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  "notes": "This is a closing letter from an activist investor presentation.",
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      "text": "We will closely monitor PepsiCo’s performance and hold management publicly accountable for delivering top-tier shareholder returns.",
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      "text": "Nelson Peltz, Founding Partner & Chief Executive Officer; Peter May, Founding Partner & President; Ed Garden, Founding Partner & Chief Investment Officer; Josh Frank, Partner and Senior Analyst",
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      "text": "while we understand that management believes the structural review has been completed and hopes to maintain the status quo, we believe the decision is one for the owners of the company. As such, while we remain open to continued dialogue with PepsiCo's management and Board, we have decided to broaden our communications with our fellow shareholders.",
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      "text": "cc: PepsiCo Board of Directors",
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      "text": "Very truly yours,",
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      "text": "We intend to begin meeting with shareholders immediately and will consider conducting public shareholder forums. We ask that shareholders examine the company's record for themselves and review the questions we raise in the attached analysis. We believe many shareholders already agree with us and we will look to inform those who may not have strong views that ours is the right path forward for the company. In addition, we will closely monitor PepsiCo's performance and hold management publicly accountable for delivering top-tier shareholder returns. Our goal will be to facilitate positive change by cutting through the rhetoric with thoughtful and quantifiable analysis, thereby creating a groundswell of support such that PepsiCo's Board concludes it must take actions that are truly in the best long-term interests of its underlying businesses and its shareholders.",
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