{
  "docId": "019dd923-622c-750b-8b9b-b5e2117e169a",
  "docSlug": "ff2d385c560d",
  "documentTitle": "Pershing Square portfolio (multi-holding LP update: MDLZ, VRX, APD, ZTS, CP, QSR, HHC, PAH, FNMA/FMCC, HLF short)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2016-01-28 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 28,
  "pageCount": 104,
  "prevPage": 27,
  "nextPage": 29,
  "slideType": "propose_solution",
  "function": "propose_solution",
  "density": "balanced",
  "nDataPoints": 2,
  "notes": null,
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-b5e2117e169a/28",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-b5e2117e169a",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-b5e2117e169a.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-b5e2117e169a#slide-28",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.82,
        "x": 0.09,
        "y": 0.205
      },
      "kind": "callout",
      "text": "Mondelez can dramatically improve its profitability using the same tools used by 3G",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d59ab3f4-2402-4d76-bca1-f59916bf118a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.8,
        "x": 0.11,
        "y": 0.665
      },
      "kind": "list",
      "text": "SG&A rationalization\nImplementation of zero-based budgeting across the organization\nCreation of an “ownership culture” through appropriate incentives",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "151c5faf-4e95-4d98-b7cf-30f70a4a2308",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.78,
        "x": 0.11,
        "y": 0.325
      },
      "kind": "list",
      "text": "Net revenue management\nElimination of unproductive trade spend, particularly in Europe\nReduction in global SKU count from ~74,000 in 2014",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a95608b8-ace8-4976-87ad-9d17c1533c29",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.65,
        "x": 0.11,
        "y": 0.525
      },
      "kind": "list",
      "text": "Procurement Productivity\nConsolidation of suppliers from ~100,000 in 2013",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fde82c29-830a-4437-b854-27f69e73ab3f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.45,
        "x": 0.08,
        "y": 0.13
      },
      "kind": "title",
      "text": "Additional Levers for Margin Expansion",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7c6eb175-0fef-44ae-b99b-7126711cae36",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "List presentation",
      "slug": "list-presentation",
      "agent": null,
      "layer": "slide",
      "matchId": "0fb320f8-6143-4376-b7e5-c6e239fde384",
      "evidence": "The slide presents information in a list format with bullet points.",
      "confidence": 0.8
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 35,
      "from": 26,
      "beatId": "8643856d-1701-4ac5-869c-e38eb8db6588",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution",
      "beatSlug": null,
      "evidence": "Proposed solutions and enhancements for portfolio companies",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [
    {
      "to": 30,
      "from": 20,
      "name": "Tale Two Worlds",
      "slug": "04-tale-two-worlds",
      "bestFor": "Competitive analysis, benchmarking, case for change",
      "matchId": "dd33ab9a-e9db-46a0-97c5-96fa77f7e2f4",
      "evidence": "Comparison of current and potential performance for portfolio companies",
      "position": 0,
      "objective": "Highlighting the contrast between current and potential performance",
      "structure": "Current State -> Desired State / Benchmark -> The Gap & Implication",
      "confidence": 0.6,
      "description": "Show the gap between two states to drive urgency or highlight opportunity"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}