This website is owned and operated by Trian Fund Management, L.P. (“Trian Partners”).

By entering our website, you acknowledge your understanding of, accept without limitation or qualification, and agree to be bound by, the following Terms of Use and all applicable laws.  These Terms of Use constitute a binding agreement between you and Trian Partners and govern your access and use of our website. Trian Partners may add to, change or remove any part of these Terms of Use at any time or from time to time, without notice, and any such modifications will be effective immediately upon posting.


To access the “Administrator” portal link you must be an investor (or a person authorized by an investor) in a Trian Partners fund or investment vehicle and you must have received a login ID and password from the administrator of Trian’s funds and investment vehicles. To access the “Investor Reporting” link you must have received a login ID and password from Trian. Login IDs and passwords are not transferable.

For California Privacy Notice disclosures, please click this link.

Restrictions on Use

The material contained on this website does not constitute any sale, offer to sell, solicitation of an offer to buy, or any form of general solicitation or general advertising of shares or interests in any of the funds or investment vehicles managed by Trian Partners. The shares and ownership interests in the funds and investment vehicles managed by Trian Partners rely on private placement exemptions to registration under the Securities Act of 1933 (or the securities laws of any states) and such funds and investment vehicles have not been registered as investment companies under the Investment Company Act of 1940. This website is only for your personal use. Other uses of this website and its contents are not permitted without the express written consent of Trian Partners. Any person using this website is not permitted to decompose, decompile, reverse engineer, disassemble or otherwise deconstruct any portion of this website. Except as expressly permitted in writing by Trian Partners, no materials from this website may be copied, reproduced, republished, uploaded, posted, transmitted or distributed in any way. You may download material displayed on this website for non-commercial, personal use only, provided that you retain all copyright and other proprietary notices contained in the materials. You may not distribute, modify, transmit, reuse, report or use any of the content on this website for public or commercial purposes, including the text, images, audio and video, without Trian Partners’ express prior written permission.

Intellectual Property

“Trian Partners” is the trade name for Trian Fund Management, L.P. “Trian Partners” and all related marks are service marks or trademarks that are proprietary to Trian Partners. They may not be used or displayed without Trian Partners’ express prior written consent. All other trademarks, service marks and logos displayed on this website are the property of their respective owners. Nothing on this website shall be interpreted as granting, by implication or otherwise, any license or right to use any image, trademark, logo or service mark. Copying or downloading material from this website does not transfer title to any material on this website to you. All rights are expressly reserved and retained by Trian Partners. You are also advised that Trian Partners considers its intellectual property to be among its most valuable assets, and will aggressively enforce its intellectual property rights to the fullest extent of the law.

No Offer of Securities; No Investment Recommendations; Information Purposes Only

Under no circumstances should any material on this website be used or considered as an offer to sell or a solicitation of any offer to buy any securities or any other instruments of any fund, account or other investment vehicle managed by Trian Partners or of any other issuer.

This website is for general informational purposes only and is governed by these Terms of Use. Although this website may include investment related information, nothing on this website is a recommendation that you should purchase, sell or hold any security or other investment, or that you should pursue any investment strategy. The information contained herein does not have regard to the specific investment objective, financial situation, suitability, or the particular need of any specific person who may view this website, and should not be taken as advice on the merits of any investment decision. Nothing on this website is intended to be, nor should you consider anything on this website to be, investment, accounting, financial, tax or legal advice. Past performance of any investment or investment strategy is not indicative of future performance. Whenever there is the potential for profit, there is also the possibility of loss. No representation is being made that any investment will or is likely to achieve profits or losses similar to those achieved in the past or that significant losses will be avoided. It should not be assumed that any securities described herein currently are, or will continue to be, held by any fund, account or other investment vehicle managed by Trian Partners or of any other issuer, nor that any such security was or will be profitable. Economic factors, market conditions and investment strategies, among other things, will affect the performance of our investments, and there are no assurances that our investments will match or outperform any particular benchmark.

Trian Partners is not utilizing this website to provide investment or other advice, and no information or material on this website is to be relied upon for the purpose of making or communicating investment or other decisions.

Third Party Information

The views expressed herein represent the opinions of Trian Partners.  Trian Partners reserves the right to change any of its views expressed on this website at any time as it deems appropriate, without notice and without liability.  Such views and the other information contained on this website are based solely on publicly available information with respect to the companies referred to in this website.  Certain information and data used in this website have been derived or obtained from sources other than Trian Partners, including, without limitation, filings made by third parties with regulatory authorities, research reports, news publications and other third party sources.  No warranty is being made that any such information or data is accurate.  In addition, except with respect to certain previously published materials, Trian Partners has not sought or obtained consent from any third party to use the statements or information indicated herein as having been obtained or derived from statements made by such third party.  Any statements or information by third parties that are posted on this website should not be viewed as indicating the support of such third party for the views expressed on this website.

Neither Trian Partners nor any of its affiliates shall be responsible or have any liability for any misinformation contained in any third party, SEC or other regulatory filing or third party report.  There is no assurance or guarantee with respect to the prices at which any securities referred to on this website will trade, and such securities may not trade at prices that may be implied in any content on this website.  The estimates, projections, pro forma information and potential impact of any Trian Partners operating and strategic initiatives contained on this website are based on assumptions that Trian Partners believed to be reasonable as of the date of such operating and strategic initiatives, but there can be no assurance or guarantee that actual results or performance of any issuer will not differ, and such differences may be material.

Risks You Assume

Information on this website speaks only as of the date indicated. While we make reasonable efforts to provide accurate information, we have no obligation to update or correct any information contained on this website even if we are aware that it is inaccurate, outdated or otherwise inappropriate.  Trian Partners may add, change, discontinue, remove or suspend any content posted on this website without notice and without liability.  You agree that we are not responsible for any action that you take or decision you make in reliance on any information contained on this website.

Linked Sites

Please note that these Terms of Use apply only to our website and not to other websites that may be accessible from this website.  Trian Partners provides such links for your convenience only, and has not reviewed these third party websites and is not responsible for any of these websites or their content.  We are responsible only for the content of our own website. If you access any third party website through our website or otherwise, you will leave this website and you do so at your own risk. Links to and from this website do not constitute any endorsement by Trian Partners of any other site, nor do they constitute any third party endorsement or sponsorship of, or affiliation with, us or this website. We encourage you to review the privacy policies and user agreements of all other websites that you visit.

We May Monitor Activity on Our Website

We may, but have no obligation to, monitor and record activity on our website for any reason or for no reason.  We may investigate any complaint or reported violation of this Terms of Use.  We may report any activity that we suspect may violate any law or regulation to regulators, law enforcement officials or other persons or entities that we deem appropriate.  We may issue warnings, suspend or terminate your use of this website, deny access to you to all or part of this website or take any other action that we deem appropriate.

International Use

Due to the global nature of the internet, this website may be accessed by users in countries other than the United States. We make no warranties that materials on this website are appropriate or available for use in such locations. If it is illegal or prohibited in your country of origin to access or use this website, then you should not do so. Those who choose to access this website outside the United States do so at their own initiative and are responsible for compliance with all local laws and regulations.

For residents of the European Economic Area (“EEA”): Trian Fund Management, L.P. is not required to comply with the General Data Protection Regulation (“GDPR”) because it does not offer its products or services to individuals residing in the EEA. Any personal data which we may receive directly from you or third parties will be processed in the United States or other non-EEA jurisdictions and may not receive equivalent legal protections to GDPR.

Export Control

The U.S. export control laws regulate the export and re-export of technology originating in the United States. This includes the electronic transmission of information and software to foreign countries and to certain foreign nationals. You agree to abide by these laws and their regulations, including but not limited to the Export Administration Act and the Arms Export Control Act and not to transfer, by electronic transmission or otherwise, any content derived from this site to either a foreign national or a foreign destination in violation of such laws.

Disclaimer of Warranties

Your use of this website and use of or reliance upon any materials on it is at your own risk.  You acknowledge that we provide the contents of this website on an “as is” basis with no warranties of any kind, to the fullest extent permissible by law. We disclaim all representations and warranties, express or implied, of any kind with respect to this website, including warranties of merchantability, fitness for a particular purpose and non-infringement of intellectual property and proprietary rights. Without limiting the foregoing, we do not warrant the availability, accuracy, completeness, timeliness, functionality, reliability, speed or delivery of this website or any part of the information contained on this website or that the server that makes this website available is free of viruses or other components that may infect, harm or cause damage to your computer equipment or any other property when you access, browse, download from or otherwise use this website.

Forward Looking Statements

Certain of the content on this website contains forward-looking statements. All statements contained in content on this website that are not clearly historical in nature or that necessarily depend on future events are forward-looking, and the words “anticipate,” “believe,” “expect,” “potential,” “could,” “opportunity,” “estimate,” “plan,” and similar expressions are generally intended to identify forward-looking statements. The projected results and statements contained in such content that are not historical facts are based on current expectations, speak only as of the date of such content and involve risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such projected results and statements.  Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Trian Partners. Although Trian Partners believes that the assumptions underlying the projected results or forward-looking statements in content on this website are reasonable as of the date of such content, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the projected results or forward-looking statements included in such content will prove to be accurate.  In light of the significant uncertainties inherent in the projected results and forward-looking statements included in content on this website, the inclusion of such information should not be regarded as a representation as to future results or that the objectives and plans expressed or implied by such projected results and forward-looking statements will be achieved.  Trian Partners will not undertake and specifically declines any obligation to disclose the results of any revisions that may be made to any projected results or forward-looking statements in content on this website to reflect events or circumstances after the date of the content containing such projected results or statements or to reflect the occurrence of anticipated or unanticipated events.

Limitation of Liability

Under no circumstances, including but not limited to Trian Partners’ negligence, shall Trian Partners or any of our affiliates, agents, partners, members, employees or consultants, including any person or entity involved in creating, producing or distributing this website (collectively, the “Trian Parties”), have any liability for any damages, liabilities or injuries, including, but not limited to, indirect, incidental, special, punitive or consequential damages, however caused, arising out of or relating to your use of, or inability to use, this website, these Terms of Use or any website operated by a third party that may be accessible from this website, even if an authorized representative of Trian Partners has been advised of the possibility of such damages, liabilities or injuries.  THE AGGREGATE TOTAL LIABILITY OF THE TRIAN PARTIES TO YOU FOR ALL DAMAGES, INJURY, LOSSES AND CAUSES OF ACTION (WHETHER IN CONTRACT, TORT OR OTHERWISE) ARISING FROM OR RELATING TO THESE TERMS OF USE, THE USE OF OR INABILITY TO USE THE SITE OR THE USE OF OR INABILITY TO USE ANY WEBSITE OPERATED BY A THIRD PARTY THAT MAY BE ACCESSIBLE FROM THIS WEBSITE SHALL BE LIMITED TO PROVEN DIRECT DAMAGES IN AN AMOUNT NOT TO EXCEED ONE HUNDRED DOLLARS ($100).  SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OR EXCLUSION OF CERTAIN LIABILITY OR WARRANTIES, IN WHICH EVENT SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU. In such jurisdictions, the Trian Parties’ liability is limited to the greatest extent permitted by law. You should check your local laws for any restrictions or limitations regarding the exclusion of implied warranties.

Trian Partners also assumes no responsibility, and shall not be liable for, any damages to, or viruses that may infect, your computer equipment or other property on account of your access to, use of, or browsing in this website or your downloading of any materials, data, text, images, video, or audio from this website.

Any cause of action you may have with respect to your use of this website must be commenced within one (1) year after the claim or cause of action arises.



Waiver of Jury Trial



We may terminate your access, or suspend your access to all or part of this website, without notice, for any conduct that we, in our sole discretion, believe is in violation of this Terms of Use, any applicable law or is harmful to the interests of another user, a third-party provider, a service provider, or us.

General Provisions

This Terms of Use and any additional terms posted on this website constitute the entire agreement, and supersedes all other agreements and understandings between Trian Partners and you with respect to your use of this website.  Our failure to exercise or enforce any right or provision of this Terms of Use shall not constitute a waiver of such right or provision.  If any part of these Terms of Use is held invalid or unenforceable by a court of competent jurisdiction, that part of the Terms of Use will be deemed modified to the extent necessary to make it effective and the remaining provisions of this Terms of Use will remain in full force and effect.

Governing Law

This Terms of Use shall be governed by and construed in accordance with the laws of the State of New York, United States of America, without reference to its conflicts of laws principles.  Any dispute relating to the above shall be brought solely in the state or federal courts located in New York, New York, and it is agreed that such courts shall have jurisdiction over the parties to these Terms of Use and any disputes arising hereunder.