Nelson Peltz to step down from the board of Oreo maker Mondelez

Nelson Peltz
Cameron Costa | CNBC
Nelson Peltz

Oreo cookies maker Mondelez International said on Tuesday activist investor Nelson Peltz would step down from its board of directors nearly four years after he was appointed.

Peltz, the CEO of Trian Fund Management, will step down on March 1 to give more time to other companies' boards.

Mondelez will name former Reynolds American CEO Debra Crew and Trian Fund President Peter May to its board.