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Trian Forms Advisory Panel

by Marc S. Reisch
January 26, 2015 | A version of this story appeared in Volume 93, Issue 4

With DuPont squarely in its sights, the activist investment firm Trian Fund Management has stepped up its pursuit of corporate targets by forming an advisory panel of former CEOs, including retired Praxair CEO Dennis Reilley. To be known as Trian Advisory Partners, the panel will help Trian identify potential investments, formulate initiatives for the companies in which it invests, and engage with boards of directors and shareholders at target firms. The partners may also join the boards of firms in which Trian takes an interest. Trian, led by Nelson Peltz, aggressively promotes change at companies in which it takes a stake. Its targets have included PepsiCo, industrial conglomerate Ingersoll Rand, and food maker Danone. Now, a growing object of Peltz’s attention is DuPont, where he has nominated four people, including himself, to the board in an effort to force a breakup of the firm. Reilley is a former chief operating officer of DuPont, and he is currently a director of Dow Chemical. Dow was targeted by Third Point, a hedge fund run by activist investor Daniel Loeb, until a recent truce.


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