Trian Partners has rolled out a website aimed at convincing shareholders to vote for its slate of board nominees.
Entitled DuPont Can be Great, the site claims DuPont is burdened by too much complexity and overhead that limits the value of its stock.
The site includes “white papers”, videos and other items aimed at tilting the playing field in favor of the New York-based investment company headed by Nelson Peltz.
Peltz is one of the four persons seeking seats on the board. Trian owns less than 5 percent of total shares of DuPont.
Trian wants DuPont to spin off more businesses beyond its Chemours Performance Chemical business. Chemours is slated to become a related company later this year, leaving the remainder of DuPont with more fast-growing businesses and fewer environmental liabilities.
The company is also moving its headquarters to the Chestnut Run site outside Wilmington, with Chemours locating to the DuPont Building in downtown Wilmington.
Critics of Trian have claimed Trian wants to burden the company with debt and strip the company of its research and development capabilities that have produced such materials as Kevlar and nylon.
Bill George, the former CEO of medical device maker Medtronic claimed in a New York Times piece that Peltz’s move theatens America’s research edge.
DuPont has also responded with its own micro site, DuPont Delivers that uses video and other material to make its case for voting for its slate of board nominees.
The use of the online materials has led to speculation that the vote for the slate of nominees will be close.
DuPont, under CEO Ellen Kullman has not been afraid to sell of businesses, but that has not been enough for Peltz, whose pressure on management of food-maker Heinz, led to its sale to private equity fund and Berkshire Hathaway, a company headed by Omaha investor Warren Buffett.
