{
  "docId": "019dd923-622b-71dc-a6db-5b8745c248b4",
  "docSlug": "61f9ed76fe8f",
  "documentTitle": "The Procter & Gamble Company (PG)",
  "authorId": "06_Trian_Partners",
  "authorName": "Nelson Peltz",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2017-09-06 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 52,
  "pageCount": 94,
  "prevPage": 51,
  "nextPage": 53,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "dense",
  "nDataPoints": 22,
  "notes": "Includes a quote from P&G's 2016 Analyst Day to expose a contradiction between their claims and actual performance.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "bar_chart_vertical",
    "bar_chart_vertical",
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-5b8745c248b4/52",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-5b8745c248b4",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-5b8745c248b4.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-5b8745c248b4#slide-52",
  "components": [
    {
      "bbox": {
        "h": 0.25,
        "w": 0.9,
        "x": 0.06,
        "y": 0.51
      },
      "kind": "chart",
      "text": "Peer Change in Operating Margin Since Before the Cost Plans (FY 2011 – FY 2017)",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6efb2904-02a5-4934-9909-a04b8762fb4b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.9,
        "x": 0.06,
        "y": 0.23
      },
      "kind": "chart",
      "text": "Cumulative Organic Sales Growth (FY 2011 – FY 2017)",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "978dbcde-7b49-40d1-a4e6-24897012b8a1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.9,
        "x": 0.06,
        "y": 0.09
      },
      "kind": "list",
      "text": "P&G claims it over-delivered on its 2012-2016 $10bn productivity plan, and is now one year into a new $12-13bn plan, yet peers have grown organic sales and operating margin faster since the plans began\nP&G cites currency headwinds for lack of margin progress, but most peers have dealt with and overcome currency headwinds (see page 25)",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "889f5760-5d36-42cc-9b51-de8b69905cd1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.92,
        "x": 0.04,
        "y": 0.81
      },
      "kind": "quote",
      "text": "Disconnect between actual productivity results and P&G's claims... As of July 1 [2016], we have reduced [overhead] roles by nearly 25%... Our 25% reduction in overhead manufacturing staffing compares to the 3G benchmark range of 5% to 23%.",
      "attrs": null,
      "subkind": "pull-quote",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "72a14151-4f36-4280-8b10-e96eeb49ddcc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.2,
        "x": 0.04,
        "y": 0.97
      },
      "kind": "source-note",
      "text": "Source: SEC filings and annual reports.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a8063a38-e5a7-46c1-b5e3-e91bd9cf4ed8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.8,
        "x": 0.06,
        "y": 0.02
      },
      "kind": "title",
      "text": "Peers Have Outperformed P&G on Growth and Margin Expansion Since The Productivity Plans Began",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ee79f9b2-d9d4-4d0b-ad6b-a3e845dc3f70",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "f959f6de-a670-417c-b1c5-f890ed5a7f28",
      "evidence": "Contrasting P&G's internal claims with peer performance data",
      "confidence": 0.95
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}