Wednesday, December 16, 2015

"Mondelez CEO Spends One-Quarter Of Her Time Listening To Peltz And Ackman Bitch And Moan" (MDLZ)

From DealBreaker:
Irene Rosenfeld runs a $70 billion international conglomerate that makes everything from Cadbury chocolates to Oreo cookies to Tang. Mondelez (MDLZ) is one of the world’s largest food companies with more than 100,000 employees in 165 countries, so you can go ahead and assume that Irene Rosenfeld is a very busy lady.

But while you’d maybe expect Rosenfeld’s day-to-day to be spent in meetings about the margins on Oreos, or touring a Toblerone facility in Asia, the WSJ found out that she spends a lot of time dealing with sh!t like this:
After Halloween, Nelson Peltz, one of two big activist investors holding Mondelez stock, called to tell her that his 12-year-old twins had rummaged through their treats and tossed their bags aside. Children were eating less candy, he said, and Mondelez had to adjust. 
Another activist, William Ackman, has been pestering Ms. Rosenfeld, a veteran marketer, to slash the number of products and change her advertising plans.
At least Ackman spared her from sharing his kids thoughts on Oreos.
But this wasn’t just an isolated incident, Rosenfeld puts up with this all… the… time.
She has fielded their suggestions on everything from global strategy to shelf space for the company’s Oreo cookies, Ritz crackers and Trident gum. She says addressing their concerns consumes one-quarter of her time.
That’s 25% of her life. That’s… a lot....