Mondelez International Adds Nelson Peltz to Board of Directors
DEERFIELD, Ill., Jan. 21, 2014 -- Mondelez International, Inc. (NASDAQ: MDLZ)
today announced that it has added Nelson Peltz, Chief Executive Officer
and a founding partner of Trian Fund Management, L.P. ("Trian"), to its
Board of Directors. With the addition of Peltz, the Mondelez International
Board of Directors expands to 12 members, 11 of whom are independent and all of
whom are elected annually. Peltz will also be included in the company's slate
of nominees for election to the Board at the 2014 Annual Meeting of
Shareholders.
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"We believe that Nelson will be a valuable addition to our Board," said Irene
Rosenfeld, Chairman and CEO. "We respect his more than 40 years of business and
investment experience as well as his expertise helping consumer products
companies leverage their brands and improve operating and financial
performance. We welcome his input as we deliver superior shareholder returns."
"The Mondelez International Board is dedicated to maintaining a group of highly
engaged, world-class professionals with significant operating experience in
multifaceted global businesses," said Mark Ketchum, Lead Director. "We're
pleased to have Nelson join our Board and are confident that he will be an
important contributor."
"As one of the company's largest shareholders, with a current beneficial
ownership of more than 46 million shares, Trian has long seen enormous
opportunities in the company's portfolio of strong global brands," said Peltz.
"Irene Rosenfeld is a CEO who has created substantial value for shareholders
over the course of her career. I look forward to working closely and
constructively with Irene, the Board and management team toward our shared
goals of driving growth, improving margins and increasing value for all
shareholders."
About Nelson Peltz
Nelson Peltz founded Trian in 2005 with Peter May and Ed Garden. From 1993 to
2007, he served as Chairman and CEO of Triarc Companies, Inc., which then owned
the Snapple Beverage Group, which was sold to Cadbury Schweppes Plc and Arby's
Restaurant Group, Inc., which was sold to a private equity firm, as well as
other consumer and industrial businesses. From 1983 until 1988, Peltz was
Chairman and CEO of Triangle Industries, Inc., which was a Fortune 100
Industrial Company following the acquisition of American Can Company's
packaging business and the formation of American National Can Company until
Triangle was acquired by Pechiney, S.A. From 2003 to 2006, Peltz served as a
director of Encore Capital Group, Inc., a leading provider of debt management
and recovery solutions. From 1996 to 1999, he was Chairman of the Board of
National Propane Corporation, the managing general partner of National Propane
Partners, L.P., a distributor of liquefied petroleum gas, which was sold to the
Columbia Energy Group. From 1984 until 1992, he was Chairman and Chief
Executive Officer and a director of Avery, Inc. which, from 1986 to 1989, was
primarily engaged in the manufacture and sale of specialty chemicals through
Uniroyal Chemical, which was sold in a management buyout. He began his business
career in 1963 when he joined his family food business.
Peltz currently serves as non-executive Chairman of The Wendy's Company, the
second-largest quick service restaurant company in the United States. He also
serves as a director of Legg Mason, Inc., an asset management firm, and Chair
of its Nominating and Corporate Governance Committee. In addition, Peltz is on
the board of directors of Ingersoll-Rand Plc, a global diversified industrial
company. He previously served as a director of H.J. Heinz Company, a global
packaged food manufacturer, until it was sold to Berkshire Hathaway and 3G
Capital.
About Trian Fund Management, L.P.
Founded in 2005 by Nelson Peltz, Peter May and Ed Garden, Trian seeks to invest
in high quality but undervalued and under-performing public companies and to
work constructively with the management and boards of those companies to
significantly enhance shareholder value for all shareholders through a
combination of improved operational execution, strategic redirection, more
efficient capital allocation and increased focus.
About Mondelez International
Mondelez International, Inc. (NASDAQ: MDLZ) is a global snacking powerhouse,
with 2012 revenue of $35 billion. Creating delicious moments of joy in 165
countries, Mondelez International is a world leader in chocolate, biscuits,
gum, candy, coffee and powdered beverages, with billion-dollar brands such as
Cadbury, Cadbury Dairy Milk and Milka chocolate, Jacobs coffee, LU, Nabisco and
Oreo biscuits, Tang powdered beverages and Trident gum. Mondelez International
is a proud member of the Standard and Poor's 500, NASDAQ 100 and Dow Jones
Sustainability Index. Visit www.mondelezinternational.com and www.facebook.com/
mondelezinternational.
SOURCE Mondelez International, Inc.
CONTACT: Michael Mitchell (Media), +1-847-943-5678, news@mdlz.com; Dexter
Congbalay (Investors), +1-847-943-5454, ir@mdlz.com; Anne A. Tarbell (Trian),
+1-212-451-3030, atarbell@trianpartners.com© 2014 PR Newswire
