Deerfield, IL — Nelson Peltz, CEO and a founding partner of Trian Fund Management, L.P., has joined the board of directors of Mondelez International, the company reports.
Mondelez Chairman and CEO Irene Rosenfeld says: “We believe that Nelson will be a valuable addition to the board, and we respect his more than 40 years of business and investment experience as well as his expertise in helping consumer products companies leverage their brands ands improve operating and financial performance.”
Peltz becomes the 12th member of the board, and the only one with ties to Mondelez: Trian Fund Management is the company’s fourth-largest shareholder. He is on the list of nominees for election to the board at the 2014 annual shareholders’ meeting. Although in 2013 he suggested the food manufacturer be acquired by PepsiCo Inc., he recently said he was no longer considering the merger.
Prior to co-founding Trian, Peltz was chairman and CEO of Triarc Companies, Inc.; CEO of Triangle Industries, Inc.; director of Encore Capital Group, Inc.; chairman of the board of the National Propane Corp. and managing general partner of National Propane Partners, L.P.; and chairman and CEO of Avery, Inc. He is currently non-executive chairman of The Wendy’s Co., and a member of the boards of Legg Mason, Inc. and Ingersoll-Rand Plc.