date:Feb 21, 2014
d service, according to PepsiCo.
Trian Fund Management disagreed by issuing a letter and a white paper on Feb. 19. Trian said PepsiCo has underperformed since 2006 and standalone snacks and beverage companies would unlock value.
A separation would create two leaner and more entrepreneurial companies, Trian said. A standalone snacks business would offer investors strong growth in sales, margins and free cash flow generation, and a standalone beverage business would provide strong, stable free c