DuPont battles Trian for shareholder votes
Will rival Trian call shareholders, too?
DuPont today sent shareholders the latest in a string of letters claiming strong results and promising better to come, read it here.
It's the latest in DuPont CEO Ellen Kullman's campaign to boost her 12-member DuPont board slate, against 4 insurgents nominated by billionaire activist Nelson Peltz's Trian Funds Management. Trian says DuPont should go further in cutting administrative costs, reconsidering R&D and weighing additional spinoffs/asset sales, in light of what Peltz says is DuPont's consistent failure to reach financial targets under Kullman.
A former DuPont engineer told me this morning he's gotten three phone calls from DuPont urging him to vote his shares in favor of the Kullman slate before next month's annual meeting. He hasn't been called by the Trian insurgents, so far. Read dozens of recent DEFA14A notes from both sides here. The Trian letters are labeled "non-management."