DuPont defeats Trian bid for change
DuPont Co. defeated the campaign by Nelson Peltz and his Trian Fund Management LP to land seats on the chemical giant’s board, dealing a landmark setback to one of the most influential activist investment firms, the Wall Street Journal reported. DuPont’s shareholders on Wednesday re-elected all of its sitting directors, rejecting the criticisms of Peltz that the 212-year-old maker of Kevlar fibers and Pioneer corn seeds suffered from a bloated corporate structure and sagging profits.
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