Mondelez International chief Irene Rosenfeld has stood behind the snacks giant's moves on costs amid speculation the Cadbury and Oreo owner could face pressure to work harder to improve profitability.

Earlier this month, US activist investor Bill Ackman acquired a stake in Mondelez, with sources close to the businessman telling The Wall Street Journal, he believes the company must grow its top-line faster, cut costs further or sell itself.

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Some Wall Street analysts have said investors are analysing the potential for Mondelez to further grow margins, with the company – like many of its peers in the US packaged food sector – coming under closer examination since the entrance of cost-focused private-equity firm 3G Capital into the industry.

In an interview with The Wall Street Journal, Rosenfeld acknowledged 3G, with its acquisition of HJ Heinz, which it then merged with Kraft Foods Group, had "set the bar higher" on costs with its use of zero-based budgeting.

However, she added: "Zero-based budgeting is a tool; it’s not an ironclad playbook. We are cutting costs as aggressively as we think we should as we continue to fuel top-line growth."

There has been some talk among analysts Mondelez could publish a new target for margins. "Mondelez's goal of 300 basis point of expansion over three years was tangible and impressive when it was announced in 2013," Sanford Bernstein analyst Alexia Howard said in a note published after Ackman's investment was announced. "But this now seems paltry given Heinz's 700 basis point improvement in 18 months from a more efficient starting point under 3G/Berkshire's leadership. Given that Mondelez is under explicit shareholder and activist scrutiny over the company's margin expansion potential – we believe that the company is likely to increase its margin targets sometime soon."

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There has been speculation Ackman invested in Mondelez as he was betting the company could become a takeover target for the new Kraft Heinz Co. Rosenfeld told the WSJ she welcomed Ackman as an investor but insisted Mondelez "will continue to follow the strategy we've been executing". She added the Triscuit cracker maker is "one of the few industry players positioned" for long-term growth in both revenue and profit.

Two weeks ago, Warren Buffett, who teamed up with 3G to buy Heinz and then combine the ketchup maker with Kraft, appeared to pour cold water on the prospect of Kraft Heinz Co. making a move for Mondelez in the near term.

However, The New York Post said on Saturday unnamed sources had told the newspaper Rosenfeld would be "a willing seller" if an interested party emerged.