- DuPont (DD -0.4%) criticizes Glass Lewis for backing Nelson Peltz's demand for a board seat, saying the proxy advisory firm had reached the "wrong conclusion" in failing to recommend a vote for all 12 of the company's nominees.
- The proxy advisory firm late yesterday said shareholders should elect the head of Trian Fund to DuPont’s board in May, and that the activist investor had "identified legitimate concerns at DuPont, primarily related to operational execution and management accountability."
- However, it agreed with DuPont's rejection of Trian's break-up plan, and praised DuPont management for creating strong shareholder returns and for the steps it has taken to transform the business.
- Glass Lewis' statement comes after proxy firm ISS also recommended DuPont board seats for Peltz and and fellow Trian nominee John Myers.