Oct 29 (Reuters) - Activist investor Nelson Peltz said Mondelez International Inc was doing too little to cut costs, the Wall Street Journal reported on Tuesday, citing a presentation given by Peltz in Chicago.
Peltz said Mondelez could nearly double earnings per share by better managing costs, the Journal reported. A representative for Peltz’s Trian Fund Management did not immediately return a request for comment and a copy of the presentation.
Peltz also said Mondelez should be able to boost its operating income margin to 18 percent from 12 percent and that he had shared a white paper on Mondelez with several members of the company’s board but had not released it publicly yet, the Journal reported.
Trian is Mondelez’s fourth biggest shareholder with 2.3 percent of shares, according to Thomson Reuters. Trian first disclosed in April it had taken a stake in Mondelez.
Mondelez International could not be reached for comment.