{
  "docId": "019dd923-622c-750b-8b9c-571191cc7adb",
  "docSlug": "48a8cbf2f1d7",
  "documentTitle": "Arconic Inc. (ARNC)",
  "authorId": "02_Elliott_Management",
  "authorName": "Elliott",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2017-04-11 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 28,
  "pageCount": 336,
  "prevPage": 27,
  "nextPage": 29,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 5,
  "notes": "The slide uses red callouts to emphasize negative performance gaps and a yellow box to highlight a contradictory quote from the CEO.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "line_chart",
    "quote_block",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-571191cc7adb/28",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-571191cc7adb",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-571191cc7adb.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-571191cc7adb#slide-28",
  "components": [
    {
      "bbox": {
        "h": 0.12,
        "w": 0.4,
        "x": 0.58,
        "y": 0.02
      },
      "kind": "callout",
      "text": "Since becoming CEO, Dr. Klaus Kleinfeld has underperformed the Company's own self-selected proxy peer median by 156% and the S&P 500 Index by 150%",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a2976dd5-95ea-4ebd-9480-64be677a14e6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.5,
        "w": 0.8,
        "x": 0.1,
        "y": 0.2
      },
      "kind": "chart",
      "text": "Alcoa Cumulative TSR % Relative to Peer Median and S&P 500 Under Dr. Klaus Kleinfeld",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0fa324f4-3057-4a71-ab15-70e2d1770889",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Total Shareholder Return: (156%)",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0391-77f4-a9f6-c3a3d32728a2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.95,
        "x": 0.03,
        "y": 0.75
      },
      "kind": "quote",
      "text": "\"I think then we are creating substantial shareholder value. That's the main driver that we will continue to follow here.\"",
      "attrs": null,
      "subkind": "pull-quote",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ee40010b-01da-46e6-a6ea-556e5294accb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "\"I think then we are creating substantial shareholder value. That's the main driver that we will continue to follow here.\" — Dr. Klaus Kleinfeld, April 10, 2012",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-0391-77f4-a9f6-be6fe93ea9ba",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.7,
        "x": 0.03,
        "y": 0.88
      },
      "kind": "source-note",
      "text": "Source: Bloomberg. Note: Total shareholder return calculated May 1, 2008 through October 31, 2016...",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8095d2c3-8e5c-458f-9e25-58e97e5c1aa3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.5,
        "x": 0.03,
        "y": 0.06
      },
      "kind": "title",
      "text": "TSR Under Current Management",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4b088255-85a4-4b05-bbfd-30e15429d17d",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "9dc0ba6c-870b-4443-9ebc-175cf03b0c52",
      "evidence": "Contrasts CEO quote about value creation with actual TSR underperformance data.",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 58,
      "from": 12,
      "beatId": "e0a957af-0483-4436-9a4f-900a2bdc789d",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Expose Contradiction",
      "beatSlug": null,
      "evidence": "The document exposes contradictions in management's statements and actions, highlighting the need for change.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    },
    {
      "to": 36,
      "from": 9,
      "beatId": "94c19959-6f31-4a05-95be-56ffe9cf8d25",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Peer Benchmark",
      "beatSlug": null,
      "evidence": "The document uses peer benchmarks to demonstrate Arconic's poor performance relative to its peers.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}