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  "documentTitle": "Trian Partners | Activist Presentation Deck | 94 slides",
  "authorId": "trian-partners",
  "authorName": "Trian Partners",
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  "presentationDate": "2017-09-01 00:00:00",
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  "pageNumber": 55,
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  "nDataPoints": 12,
  "notes": "The slide uses a table-like structure to compare historical performance metrics across four specific portfolio companies.",
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      "kind": "callout",
      "text": "At Trian’s consumer investments where Nelson Peltz has served on the board, margin improvement coincided with sales growth, often due to reduced bureaucracy, greater accountability, and a faster moving organization",
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      "kind": "disclaimer",
      "text": "Source: SEC filings. (1) Represents earnings before interest, taxes, depreciation & amortization (“EBITDA”) margin. (2) Represents operating margin excluding advertising spend.",
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      "text": "Comparison of Margin Improvement and Growth Profile for Mondelez, Sysco, Wendy's, and Heinz.",
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      "kind": "title",
      "text": "Cost Reduction and Faster Growth are NOT Mutually Exclusive",
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