1. DuPont CEO Departure Buys Time to Appease Peltz

    DuPont CEO Departure Buys Time to Appease Peltz

    BOSTON/TORONTO (Reuters) - The departure of DuPont's chairwoman and chief executive Ellen Kullman has bought the U.S. chemical manufacturer a few months' grace to boost its stock price and appease activist investor Nelson Peltz.  Before Kullman's surprise retirement announcement, the billionaire fund manager was considering launching a second attempt to get representation on DuPont's board, people familiar with his thinking said on Tuesday...

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    1. This goes a long way to inoculate the company from another proxy fight.
    2. My expectation is that he will be super aggressive on the cost cutting and that the idea of an integrated science company is out the window.
    3. I tell clients that even if you win a proxy fight, activists aren't necessarily going to go away. You can win the battle but still lose the war.
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