{
  "docId": "019dd923-622b-71dc-a6db-96363f3635d5",
  "docSlug": "96abbaf09d0b",
  "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": "2015-04-21 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 49,
  "pageCount": 87,
  "prevPage": 48,
  "nextPage": 50,
  "slideType": "cite_precedent",
  "function": "cite_precedent",
  "density": "dense",
  "nDataPoints": 24,
  "notes": "Includes a disclaimer regarding past performance and specific financial definitions.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "kpi_table",
    "bar_chart_vertical",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-96363f3635d5/49",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-96363f3635d5",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-96363f3635d5.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-96363f3635d5#slide-49",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "IR Shareholder Returns Outperform The Market",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-203c-716b-be63-2f54ff3b53ee",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.4,
        "x": 0.5,
        "y": 0.5
      },
      "kind": "chart",
      "text": "IR Shareholder Returns Outperform The Market: TSR from 2/2/12-4/16/15. Ingersoll-Rand/Allegion (154%) vs S&P (70%).",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9e543fae-2407-40c7-a1b6-ef9747969f88",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.8,
        "x": 0.1,
        "y": 0.85
      },
      "kind": "disclaimer",
      "text": "Disclaimer: This case study is an example of a discrete investment... (1) EV/NTM EBITDA is defined as... (2) Source: Bloomberg... (3) ROIC is defined as... (4) TSR represents total shareholder return...",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5f854058-8bc5-4fd8-a0ab-94e18cb63481",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.4,
        "x": 0.1,
        "y": 0.2
      },
      "kind": "list",
      "text": "Trian invested in IR in February 2012 and met with management that April to discuss a broad corporate restructuring seeking: Higher margins, Portfolio optimization, Efficient capital allocation. In August 2012, Nelson Peltz joined the Board of Directors. Since then, Ingersoll-Rand has accomplished the following: Increased Focus (Spun-off Allegion), Improved Profitability (EBIT margin increased ~200bps), Improved ROIC (Improved by 294bps).",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "751de89b-4060-4ca4-bfb9-2c41210dc7fa",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "TSR: 154%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-203c-716b-be63-30c270612c92",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.4,
        "x": 0.5,
        "y": 0.18
      },
      "kind": "table",
      "text": "Key Metrics Up Across the Board: Revenue, Organic Growth, Gross Margin, EBITDA, EBIT, EBIT Margin, Diluted EPS, Annual Dividend, After-Tax ROIC for 2011 and 2014.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a28fda20-1f20-4305-81dc-79df6a7ab791",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.5,
        "x": 0.1,
        "y": 0.12
      },
      "kind": "title",
      "text": "Nelson Peltz Case Study: Ingersoll-Rand",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "eb3cf35a-86e5-43bf-9aac-da353be23693",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "2x2 matrix",
      "slug": "matrix-2x2",
      "agent": null,
      "layer": "slide",
      "matchId": "662cb7a6-4911-43c4-aef0-963b394c0ad1",
      "evidence": "Key Metrics Up Across the Board: Revenue, Organic Growth, Gross Margin, EBITDA, EBIT, EBIT Margin, Diluted EPS, Annual Dividend, After-Tax ROIC for 2011 and 2014.",
      "confidence": 0.5
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 80,
      "from": 38,
      "beatId": "6527b8ff-de98-474a-ad16-b9f2a01eaca8",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "The deck presents Trian's nominees and strategy as a solution, with a track record of success and qualified individuals.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [
    {
      "to": 80,
      "from": 38,
      "name": "Quick Win Big Bet",
      "slug": "47-quick-win-big-bet",
      "bestFor": "Transformation planning, 100-day plans, resource allocation",
      "matchId": "2207c661-0976-476c-9b93-e7e651f448dd",
      "evidence": "The deck presents Trian's nominees and strategy as a solution with a track record of success.",
      "position": 2,
      "objective": "Present Trian's solution as a quick win and big bet",
      "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap",
      "confidence": 0.7,
      "description": "Separate initiatives into immediate wins and longer-term strategic bets"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}