Activist investor Nelson Peltz to leave Mondelēz Board

Peltz took the decision to devote more time to other Board commitments. He has been a Mondelez director since 2014. The businessman – with a net worth of $1.66bn according to Forbes – is also a director of Sysco Corporation and The Madison Square Garden Company, and will become a director of The Procter & Gamble Company from March 1, 2018. Mondelēz has appointed Debra Crew, former president and CEO of Reynolds American, and Peter May, president and a founding Partner of Trian, to its Board, effective March 1, 2018. Trian is the fourth largest shareholder of Mondelēz with 4% of institutional holdings, according NASDAQ. The asset management firm pushed PepsiCo to acquire Mondelēz in 2013 – but a deal never materialized. Mondelēz performance and outlook Mondelēz reported a revenue decline of 0.1% to $25.9bn in 2017, representing 0.9% organic growth. It fell slightly short of its target of at least 1% organic net revenue growth. Former McCain Foods president Dirk Van de Put succeeded Irene Rosenfeld as Mondelēz’s CEO in November 2017. Mondelēz expects 2018 net organic revenues to increase 1% to 2% in 2018.

Activist investor Nelson Peltz to leave Mondelēz Board

Trian Fund Management CEO Nelson Peltz, who pushed for a merger between Mondelēz and PepsiCo five years ago, will stand down from Mondelez’s Board of Directors as the Cadbury maker names two new members.

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