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  "documentTitle": "Trian Partners | Activist Presentation Deck | 94 slides",
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  "authorName": "Trian Partners",
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  "presentationDate": "2017-09-01 00:00:00",
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  "pageNumber": 47,
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  "slideType": "villain_critique",
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  "notes": "Uses a historical case study (Schick/Quattro) to frame a critique of current management structure.",
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      "text": "In September 2003, before P&G acquired Gillette, Schick launched its 4-blade razor system, Quattro, leapfrogging Gillette’s Mach 3 system that had been on the market since 1998. The launch was well-timed and dangerous to Gillette... The Quattro launch set off alarm bells... The M3 Power launch helped Gillette defend market share...",
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      "text": "The same question can be asked in a different way with respect to the recent challenge from Dollar Shave Club... Would a more focused Gillette management team... have responded more aggressively many years ago to upstart competitors? ... We suspect the answer is yes and others seem to agree...",
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      "kind": "paragraph",
      "text": "A fair question to ask is whether Gillette in its current form... would have responded as quickly to Schick’s Quattro challenge? We suspect the answer is no",
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      "kind": "quote",
      "text": "Had it been free from P&G’s lumbering management structure, Gillette might have been more aggressive about fighting its new rivals, says Ali Dibadj... 'Frankly, Gillette should have taken out Dollar Shave [Club] in year one,' Dibadj says.",
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      "kind": "source-note",
      "text": "(1) “The Razor Wars Have Begun and Somebody’s Going to Get Hurt,” by Jeff Harder, Boston Globe, June 21, 2017.",
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      "kind": "title",
      "text": "We Believe an Empowered Gillette Would Have Defended Market Share More Aggressively",
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