- Nelson Peltz's Trian Fund launches a proxy fight against DuPont (DD) to add four directors to the board, setting up a showdown following 18 months of bickering between the activist investor and the company.
- Trian’s four nominees, which include Peltz himself, likely will be put to a shareholder vote in April unless the parties reach a settlement.
- Trian says the DuPont board "has not held management accountable for continuing underperformance and repeated failures to deliver publicly stated revenue and earnings targets."
- With a $67.5B market cap, DuPont ranks among the biggest-ever targets of a proxy fight by an activist investor.