Peltz escalates campaign to break up DuPont with board nominees
Activist investor Nelson Peltz, one of DuPont's largest shareholders, stepped up his fight to break up the industrial conglomerate, as his Trian Fund nominated himself and three other members to the board.



Trian Fund Management, which Peltz heads, said on Thursday that investment funds it manages own 24.3 million DuPont shares worth about $1.8 billion. That is a 2.68 percent stake.

"DuPont board has not held management accountable for repeatedly missing promised revenue and earnings targets," Trian said in a statement.

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DuPont responded in a statement that its board would review Trian's director nominees and "make a recommendation that is in the best interest of all shareholders."

In defense, DuPont pointed to its market-beating stock returns under its leadership team since the end of 2008 and said its highly qualified directors are revamping the company. It has also noted ongoing cost cuts.

In September, Trian sent a letter to DuPont urging a breakup, saying efforts already under way to shed some of the company's businesses were not enough to fix its "underperformance."