{
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  "docSlug": "41c1c7e3c345c2432b58f19478122ec0",
  "documentTitle": "Trian Partners | Activist Presentation Deck | 42 slides",
  "authorId": "trian-partners",
  "authorName": "Trian Partners",
  "documentKindSlug": "activist-deck",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2018-10-01 00:00:00",
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  "pageNumber": 10,
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  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 7,
  "notes": "Uses a CEO quote to highlight the gap between management's stated goals and actual performance.",
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      "kind": "chart",
      "text": "Adjusted EPS (as reported) 2015-2018e",
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      "kind": "disclaimer",
      "text": "(1) Adjusted EPS (as reported) represents PPG's adjusted earnings per share... (2) Revised 2018 estimates based on actual results...",
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      "kind": "list",
      "text": "The Company has missed its 10% EPS growth target in each of the last 3 years",
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      "kind": "quote",
      "text": "So I think we've had a historical preference to grow EPS 10%, and I don't think we're walking away from that.",
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      "kind": "source-note",
      "text": "Source: Company SEC filings, Bloomberg, earnings calls transcripts.",
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      "kind": "title",
      "text": "EPS Growth Has Stalled And Missed Targets",
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      "evidence": "Slides 4-15 present PPG's performance issues, including underperformance, missed targets, and flawed decision-making.",
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      "evidence": "The document presents data and analysis on the costs of inaction, including missed targets and underperformance, and the potential benefits of Trian's recommendations, including increased shareholder value.",
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      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
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