date:Mar 17, 2014
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The letter shows that Peltz doesnt intend to retreat after months of pressuring the company to separate its beverage and Frito-Lay snack units to slash costs, allow more focused marketing and spur faster growth. The investor, whose fund owns 0.8% of PepsiCo, said the board doesnt appreciate how frustrated shareholders are.
Centralization of costs and power within corporate has eroded PepsiCos culture and impaired the competitiveness of its businesses, Peltz and his Trian partners said in th