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MDLZ

Mondelez

$42.53

0.39 (0.93%)

09:19
02/13/18
02/13
09:19
02/13/18
09:19

Mondelez appoints Debra Crew, Peter May to board, Nelson Peltz to step down

Mondelez International today announced it has appointed Debra Crew, former President and CEO, Reynolds American, and Peter May, President and a Founding Partner of Trian Fund Management, L.P., to the company's board effective March 1, 2018. Nelson Peltz, CEO and a Founding Partner of Trian, who has been a director since 2014, has informed the company that he will be stepping down on that same date to devote more time to other Board commitments. "We welcome Debra and Peter to our Board and look forward to their contributions," said Chairman Irene Rosenfeld. "We also thank Nelson, who was a valued and constructive Director and made significant contributions to our Board and our business. We wish him all the best. Debra and Peter bring strong operational and financial track records, which will benefit both our Board and our company," said Chief Executive Officer Dirk Van de Put. "I look forward to working with both of them, as well as our other Directors, as we enter our next chapter." "I am pleased with the progress the company has made over the last several years under Irene's leadership," said Peltz. "As a large shareholder, Trian remains a strong believer in the future success of Mondelez International. The company is well positioned to continue to create value for its shareholders under Dirk who became CEO in November 2017." Crew began her more than 20-year career in consumer packaged goods at Kraft Foods in 1993. She went on to hold positions of increasing responsibility at a number of global food and beverage companies, including Nestle S.A., Mars, Inc. and PepsiCo. Crew served as President and General Manager, PepsiCo North America Nutrition, President, PepsiCo Americas Beverages, and President, Western European Region of PepsiCo Europe. Most recently, she was President and CEO of Reynolds American, which was acquired by British American Tobacco in 2017. Crew also served as a captain in the U.S. Army in military intelligence.

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    May

MDLZ Mondelez
$42.53

0.39 (0.93%)

02/02/18
02/02/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. MasterCard (MA) upgraded to Buy from Hold at Argus with analyst Stephen Biggar saying the stock should trade above its historical average earnings multiple, with effective tax rate of 20% seen below 27% in 2017 as well as continued strong purchase volumes and growth in cross-border volumes and processed transactions. 2. Tableau (DATA) upgraded to Hold from Sell at Maxim with analyst Nehal Chokshi citing normalized bookings accelerating to 26% growth in the fourth quarter and sees normalized sales productivity stabilizing at about a 33% level. 3. Mondelez (MDLZ) upgraded to Buy from Hold at Societe Generale with analyst Warren Ackerman saying fourth quarter results were "solid" as emerging markets are rebounding strongly and the worst is over in North America. 4. Huntington Ingalls (HII) upgraded to Outperform from Market Perform at Cowen with analyst Gautam Khanna saying the shares are "excessively discounted" relative to the large cap defense peer average. 5. Sherwin-Williams (SHW) upgraded to Buy from Neutral at Seaport Global with analyst Michael Harrison saying the Valspar deal adds another layer of potential growth. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/02/18
SOCG
02/02/18
UPGRADE
Target $55
SOCG
Buy
Mondelez upgraded to Buy following 'solid' Q4 at Societe Generale
As previously reported, Societe Generale upgraded Mondelez to Buy from Hold with a $55 price target, up from $45. Analyst Warren Ackerman said Q4 results were "solid" as emerging markets are rebounding strongly and the worst is over in North America. Ackerman things 2018 guidance is conservative and the strategic review could unlock further potential upside.
02/02/18
SOCG
02/02/18
UPGRADE
SOCG
Buy
Mondelez upgraded to Buy from Hold at Societe Generale
01/29/18
RBCM
01/29/18
NO CHANGE
RBCM
RBC estimates Mondelez stake in Keurig worth $3B after deal
As part of Keurig Green Mountain and Dr Pepper Snapple's (DPS) merger agreement, JAB will make an equity investment of $9B to finance the deal. Mondelez's (MDLZ) stake in Keurig will be reduced from 24.24% to 13%-14%. RBC Capital analyst David Palmer estimates the value of Mondelez's stake at around $3B. Based on the current Dr Pepper Snapple share price, Palmer thinks Mondelez's stake is up 50% since March 2016. He continues to see upside to Mondelez's stakes in both Jacobs Douwe Egberts and Keurig. The analyst keeps an Outperform rating on Mondelez shares. The stock in midday trading is down 5c to $44.37.

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