Mondelez International announced last month that it is adding activist investor Nelson Peltz to its board. Peltz will also be included in the company's slate of nominees for election to the board at the 2014 Annual Meeting of Shareholders. According to news reports, the move was to avoid proxy a fight as a part of Peltz's efforts to improve Mondelez's profit margins and cut costs. Peltz's Trian Fund Management is one the largest investors in Mondelez. With the nomination, Peltz gave up on his proposal to merge Mondelez with Pepsico (PEP) after the latter spun off its slow growing beverage businesses. The plan was rebuffed by Pepsico. Peltz had expected the merger between Mondelez and Pepsico's profitable snacks business to create a "global snacking powerhouse."