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  "documentTitle": "Trian Partners | Activist Presentation Deck | 94 slides",
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  "authorName": "Trian Partners",
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  "notes": "The slide uses a comparison table to frame P&G's historical performance as a failure relative to peers.",
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      "text": "Most comparable across time frames (see page 18 for more detail)",
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      "text": "P&G's income statement has stalled since 2011, underperforming the peer average on virtually every line item including: sales growth (volume and organic growth), gross profit growth, gross margins, operating profit growth, operating margins and EPS growth",
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      "text": "Source: SEC filings and annual reports. Note: Financials exclude one-time costs...",
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      "text": "P&G's Operating Results Have Underperformed Peers",
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