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Irene Rosenfeld

Mondelez Adds Activist Nelson Peltz to Board

Avoiding a potential proxy fight, global food giant Mondelez International (NASDAQ:MDLZ) announced a deal on Tuesday to add activist investor Nelson Peltz to its board of directors.The agreement comes as reports indicate Peltz, the billionaire founder of Trian Fund Management, was weighing a proxy fight as part of his efforts to boost Mondelez's profit margins.Peltz also signaled a willingness to abandon his efforts to get PepsiCo (NYSE:PEP) and Mondelez to merge. Peltz is a major shareholder of PepsiCo."Given that Pepsi's not interested in Plan A, we are encouraging them to pursue Plan B," a Trian spokesperson said in an emailed statement.Plan B calls for PepsiCo to separate its snacks and beverages business in an effort to focus management and investor attention on the snacks business. Trian believes such a move would lead to about $136 to $144 of implied value per share by the end of 2015.With the addition of Peltz, the size of Mondelez's board expands to 12 members, including 11 wh...

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