DuPont taps 2 new directors amid proxy fight, calls for break up by activist investor Peltz

StocksAssociated Press

The DuPont Co. has named two new independent directors with experience in corporate turnarounds as it faces a proxy fight and break-up calls from activist investor Nelson Peltz.

But Thursday's nominations of Tyco International chairman Edward Breen and former LyondellBasell Industries CEO James Gallogly are not likely to appease Peltz. The two were not among a slate of four nominees proposed by Peltz's Trian Fund Management.

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CEO Ellen Kullman said in a letter to Peltz that DuPont was willing to consider one of his nominees if he agreed to drop his slate and support the company's nominees. She said the company was disappointed that Peltz wouldn't consider any alternative that did not involve putting him personally on the board.

DuPont shares were up 2.1 percent Thursday to $75.89.