Mondelez adds activist investor Nelson Peltz to board

Tue Jan 21, 2014 7:14am EST

Jan 21 (Reuters) - Mondelez International Inc said it added activist investor Nelson Peltz to its board.

Peltz's Trian Fund Management is Mondelez's fourth-largest shareholder with 2.3 percent of its shares, according to Thomson Reuters.

With the addition of Peltz, Mondelez's board expanded to 12 members, 11 of whom are independent.

Peltz had criticized the packaged food company in July, saying it did not generate as much profit as it could and it should be acquired by PepsiCo Inc.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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