Mondelez Names Peltz Director as Investor Seen Pushing Cuts
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Nelson Peltz, the activist investor, is joining Mondelez International Inc.’s board and probably will push the food maker to cut costs and improve profitability.
With the addition of Peltz, the board expands to 12 members, the Deerfield, Illinois-based company said today in a statement. Peltz’s Trian Fund Management LP was the fifth largest investor in Mondelez as of September, according to data compiled by Bloomberg. Peltz will stand for election at the 2014 annual meeting, which hasn’t been announced.