Nelson Peltz's Trian Fund Management Launches Proxy Fight Against DuPont

(RTTNews) - Trian Fund Management, L.P., one of the largest stockholders of E. I. du Pont de Nemours and Co. (DD), said Thursday that it has nominated four candidates for election to the DuPont Board of Directors at the 2015 Annual Meeting of Shareholders.

Trian's four director nominees are Nelson Peltz, Chief Executive Officer and a Founding Partner of Trian, John Myers, former President and Chief Executive Officer of GE Asset Management, Arthur Winkleblack, former Executive Vice President and Chief Financial Officer of H.J. Heinz Co. and Robert Zatta, Acting Chief Executive Officer and long-time Chief Financial Officer of Rockwood Holdings, Inc.

Investment funds managed by Trian currently beneficially own an aggregate of about 24.4 million DuPont shares valued at about $1.8 billion.

Trian believes long-term success requires each of DuPont's business segments to achieve best-in-class operating metrics.

Trian also believes the DuPont Board has not held management accountable for continuing underperformance and repeated failures to deliver publicly stated revenue and earnings targets. In addition, Trian believes the DuPont Board's recent decision to spin-off Chemours, its Performance Chemicals segment, shows a disconnect from stockholders. Trian believes it is time for new perspectives and robust oversight from the DuPont Board.