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  "documentTitle": "Trian Partners | Activist Presentation Deck | 35 slides",
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  "authorName": "Trian Partners",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2023-01-01 00:00:00",
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  "notes": "Uses a before-and-after framing to demonstrate credibility and relationship building.",
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      "text": "Trian has been involved in three proxy contests: (i) Heinz in 2006; (ii) DuPont in 2015; and (iii) P&G in 2017. In all three, we heard substantially the same rhetoric from the companies and their advisors prior to the proxy contest. However, management's views of Trian and Nelson Peltz changed dramatically after we began to work with them to enhance shareholder value. We subsequently developed strong and positive relationships with all three boards and management teams.",
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      "text": "Source: SEC filings and press releases. Note: (1) Following the proxy contests, Nelson Peltz served on the Heinz Board from 09/15/06 to 09/07/13 and the P&G Board from 03/01/18 to 10/12/21.",
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      "text": "Comparison table of quotes from Heinz, DuPont, and P&G leadership before and after Trian involvement.",
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      "text": "Trian Has Developed Strong Relationships with Company Boards and Management Teams Following Prior Proxy Contests",
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