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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": 26,
  "pageCount": 42,
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  "slideType": "competitive_analysis",
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  "density": "balanced",
  "nDataPoints": 24,
  "notes": "The slide highlights PPG's diversified channel strategy compared to competitors who are heavily reliant on single channels.",
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      "kind": "disclaimer",
      "text": "Source: Company investor presentations, Wall Street research, SEC filings, Trian estimates.",
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      "text": "PPG is the only major North American player with coverage across the 3 major channels\nHalf of PPG’s sales are through its paint store network, which is the fastest growing channel in the US\nWhile the independent channel is in structural decline, it only represents ~15% of PPG’s sales",
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      "kind": "table",
      "text": "Brands, Market Share, Distribution Mix for Sherwin-Williams, PPG, Masco, and Benjamin Moore.",
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      "kind": "title",
      "text": "PPG Appears to Be Well Positioned to Compete in North American Architectural Paints",
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      "evidence": "Slides 16-28 agitate PPG's performance issues, highlighting the need for change and the potential benefits of Trian's recommendations.",
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