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UPDATE 1-Mondelez adds activist investor Nelson Peltz to board

Tuesday, 21 Jan 2014 | 7:46 AM ET

Jan 21 (Reuters) - Mondelez International Inc, which makes Cadbury chocolate, Oreo cookies and Trident gum, said it added activist investor Nelson Peltz to its board.

Peltz's Trian Fund Management is Mondelez's fourth-largest shareholder with 2.3 percent of its shares, according to Thomson Reuters data.

The billionaire from Brooklyn had said last year that Mondelez could almost double its earnings per share by managing costs better. He had also said that the company should be acquired by PepsiCo Inc.

His addition increased the size of Mondelez's board to 12 members, 11 of whom are independent.

Peltz's influence was key in the spinoff of Dr Pepper Snapple Group from Cadbury, Kraft's purchase of Cadbury, and the subsequent breakup of Kraft into Mondelez and Kraft Foods Group Inc.

His New York-based hedge fund's top five holdings include Mondelez, PepsiCo, Wendy's Co and Family Dollar Stores Inc.

Shares of Deerfield, Illinois-based Mondelez closed at $35.25 on the Nasdaq on Friday.

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