Irene Rosenfeld does not have an easy job.

In addition to running the awkwardly named Mondelez -- a snacks conglomerate worth more than $70 billion -- she also has to deal with two of the peskiest activist investors on the planet. Nelson Peltz and Bill Ackman.

She seems to be handling it well. Rosenfeld has led the Oreo maker since it split from Kraft in 2012. (She was CEO of Kraft from 2006 up until the breakup.)

Shortly after Mondelez (MDLZ) came into being, Peltz bought a stake and urged Rosenfeld to merge the company with Pepsi's (PEP) Frito-Lay snack unit. Mondelez subsequently put Peltz on the board so he would calm down a bit.

Related: Ackman takes aim at Oreo maker Mondelez

Now Ackman is an investor. And he too thinks Mondelez could be a takeover target. Ironically enough, many think it could be a good fit for the new Kraft Heinz (KHC). (Reunited and it feels so good? And can you pass the ketchup?)

But through it all, Rosenfeld has kept her head down and simply run the company. She's aggressively cut costs to offset sales declines. That has helped Mondelez beat earnings forecasts for the past few quarters.

And the stock is up 23% this year. Activists could certainly find a company more troubled than Mondelez.