DuPont rejects activist request to change how directors are elected

http://ift.tt/eA8V8J Peltz's Trian Fund Management LP has been publicly critical of the company's performance and requested DuPont use a tool called a universal proxy, which has played a key role in company shake-ups. The universal proxy allows shareholders to split their vote if they are not fully convinced of either party during a proxy battle. DuPont said a universal proxy could compromise access and accuracy and issuing the card to all 600,000 individual shareholders could be cumbersome. The universal card played a key role in billionaire activist investor William Ackman's loss to Target Corp (TGT.N) in 2009 and his successful shakeup of Canadian Pacific Railway Ltd's (CP.TO) board a few years later.



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