{
  "docId": "019dd923-622b-71dc-a6db-8db9eda08bf8",
  "docSlug": "80938ee8f28c",
  "documentTitle": "E.I. du Pont de Nemours and Company (DuPont) (DD)",
  "authorId": "06_Trian_Partners",
  "authorName": "Nelson Peltz",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2015-04-22 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2631578,
  "pageNumber": 48,
  "pageCount": 88,
  "prevPage": 47,
  "nextPage": 49,
  "slideType": "cite_precedent",
  "function": "cite_precedent",
  "density": "overcrowded",
  "nDataPoints": 26,
  "notes": "Includes a testimonial from Emil J. Brolick.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "kpi_table",
    "bar_chart_vertical",
    "quote_block",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-8db9eda08bf8/48",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-8db9eda08bf8",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-8db9eda08bf8.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-8db9eda08bf8#slide-48",
  "components": [
    {
      "bbox": {
        "h": 0.22,
        "w": 0.36,
        "x": 0.5,
        "y": 0.48
      },
      "kind": "chart",
      "text": "Wendy's Outstanding Shareholder Returns",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f43430d2-4a25-4ef2-875f-9dd5b6aed9c5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.75,
        "x": 0.1,
        "y": 0.85
      },
      "kind": "disclaimer",
      "text": "This case study is an example of a discrete investment, which is presented solely to illustrate Trian's investment process and strategies...",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c4eaaa62-19c0-410c-a585-03b099d21d14",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.35,
        "x": 0.133,
        "y": 0.235
      },
      "kind": "list",
      "text": "In 2008, Triarc, which was controlled by Trian's Principals, acquired Wendy's International; Nelson Peltz became Non-Executive Chairman. Trian's Principals' investment thesis for long-term value creation: 1) increase focus, 2) invest in organic growth, and 3) expand margins. Capital expenditures in 2014 have tripled since 2008 as the brand is executing an Image Activation investment program. Relaunched the entire core menu, including hamburgers, fries, salads and chicken sandwiches, resulting in record sales per store. Rated #1 overall and in food and décor in Zagat's Sept. 2012 fast food survey. Improved the quality of earnings through refranchising: targeting 5% company ownership by 2016 – down from 21% in 2008",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "25faff33-51ea-4339-8c5e-2b854fa1a93f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "TSR: 126%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-14d8-75c0-8c81-4aa208f8b2c3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.73,
        "x": 0.133,
        "y": 0.72
      },
      "kind": "quote",
      "text": "Nelson Peltz and Trian have played an important role in Wendy's brand transformation and financial improvement. I greatly value the thought leadership and strategic insight that Nelson and the Trian team provide. Nelson and Trian are passionate advocates for the brand's growth and success. We work collaboratively on key strategic decisions and our company benefits from Trian's insight on financial and global opportunities.",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6ac0b564-4fdd-413b-818d-42975b6d8c7c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "Nelson Peltz and Trian have played an important role in Wendy’s brand transformation and financial improvement. I greatly value the thought leadership and strategic insight that Nelson and the Trian team provide. Nelson and Trian are passionate advocates for the brand’s growth and success. We work collaboratively on key strategic decisions and our company benefits from Trian’s insight on financial and global opportunities. — Emil J. Brolick, President and CEO, The Wendy’s Company",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-14d8-75c0-8c81-469d01463cce",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.36,
        "x": 0.5,
        "y": 0.205
      },
      "kind": "table",
      "text": "Key Metrics Up Across the Board",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b42d9049-7bfe-4f39-b8e4-8577da19ceec",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.025,
        "w": 0.35,
        "x": 0.133,
        "y": 0.165
      },
      "kind": "title",
      "text": "Nelson Peltz Case Study: Wendy's",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6dd1ca36-773c-4061-90c3-2a8d98b9ea6e",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Storytelling: audience calibration",
      "slug": "audience",
      "agent": "storyteller",
      "layer": "slide",
      "matchId": "db312b26-5bc6-46e0-a1c0-3beefd3f47c3",
      "evidence": "Nelson Peltz Case Study: Wendy’s",
      "confidence": 0.7
    }
  ],
  "frameworks": [
    {
      "name": "before-after-framing",
      "slug": null,
      "matchId": "c89fc747-1265-4018-bab5-8f0ff58caea5",
      "evidence": "Compares 2008 situation to 2014/2015 outcomes",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 50,
      "from": 42,
      "beatId": "0626fdcf-9dc3-406f-a70b-73e1d0bb6bb1",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Climax",
      "beatSlug": "mountain-climax",
      "evidence": "Trian's vision for DuPont's future",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}