Pershing Square Activist Presentation Deck
Management is Confident in Improving Results
"I'm very confident in our sequential improvement in market share driven by
innovation. I would differ with your characterization [of P&G not achieving material
market share improvement]. I think we've made substantial progress in increasing
the percent of our business growing market share. And I think that ties pretty directly
to the innovations you've seen....We are continuing to invest in innovation. We've
increased the spending on research and development the past three years and we're
going to continue to make sure that we're building the capability to keep that
innovation going. And the results in the marketplace are demonstrating that we're
executing with excellence today, more so perhaps than the previous period you were
talking about. So I'm confident we're going to continue this sequential
improvement and you'll see it in the [market] sharing, you'll see it in the top
line."
Bob McDonald, CEO
Earnings conference call, 4/24/13
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