Dupont's CEO Desires Continued Trian Relationship, Despite Rejecting Seats On The Board

Billionaire Nelson Peltz's Trian Fund Management, L.P. (Trian Partners) lost its long-standing fight to join E I Du Pont De Nemours And Co DD's board earlier this year when shareholders voted against it.

Ellen Kullman, Dupont CEO, was on CNBC recently to discuss the company's relationship with Trian and whether Dupont will continue to engage with the hedge fund.

In Touch With Trian

"We have been in touch (with Trian Partners)," Kullman said. "And we want to engage with them as we do with all our shareholders to continue to tell our story and understand how we are going to continue to deliver shareholder value."

Related Link: Pentair Stock Shoots Higher On Activist Stake

Continued Relationship

Kullman was asked if Peltz provided her a cover to be aggressive with the business and reshape it according to her vision by pushing for change. She replied, "It's interesting, because when you run a 213-year-old company, it's always, 'Where do all those questions come from?' We have been on transformation for the last six years. Certainly we engaged with them, listened to their ideas, understood."

She continued, "There was a lot of common ground there; there was a lot of areas where we absolutely agreed upon, and there were a couple that we just didn't. And so it has been. It was a very good interaction for a number of years, and we hope to continue to work with them in the future."

Defense Against Trian

On how she successfully defended her leadership and her vision for the company against Trian Partners, Kullman said, "It was about taking our strategy out to our shareholders. And it was really engaging with all of our shareholders very transparently around the future of the company."