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Feb. 12, 2015 Source: DuPont news release Today DuPont issued the following statement on the release of a new white paper by Trian Fund Management, L.P.: DuPont continues to aggressively advance its plan to deliver higher growth and higher value. We have delivered 266 percent in total shareholder returns during management's tenure through 2014, and have delivered 17 percent, 78 percent, and 160 percent over the last one-, three- and five-year periods, respectively, all in excess of our proxy peers and the S&P 500. We continue to implement a broad program of change to shape the next major era of market driven innovation at DuPont, including: • The separation of Chemours, the latest step in the multi-year transformation of our portfolio to focus our effort and investment on highest potential commercial opportunities where our advantaged science will deliver greater value. This includes the acquisition of Danisco and Pannar, as well as the separation of Chemours, upon completion of which we will have divested a total of $11 billion worth of legacy businesses in the past three years alone; • A relentless focus on productivity to reshape our new company, which is yielding accelerated cost savings and redesign; • Significant ongoing return of capital to shareholders; • An ongoing focus on strong corporate governance, adding six new directors since 2011. Our Board and management team have attempted to engage constructively with Trian, including more than 20 conversations with the Trian team, involving our senior management or our lead independent director. We recently reached out to Mr. Peltz in an effort to reach a resolution and avoid a costly and distracting proxy fight. He refused, however, to even consider any path forward that did not involve Nelson Peltz himself being added personally to the DuPont Board. The Board and management have carefully considered Trian's proposals to break up the company and have concluded that they are costly and high risk and would not serve the interests of shareholders. We will review Trian's latest presentation thoroughly, as we have done with each previous white paper. While our Board and management team are always open to good new ideas, we remain focused on executing our strategy and continuing to deliver value to DuPont shareholders. Tweet |
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