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DuPont adopts executive severance and bylaw changes in advance of Trian stake disclosure
3:35 PM MDT | August 13, 2013 | Robert Westervelt
DuPont has adopted a cash payout severance plan for senior executives fired following a company takeover and also changed company bylaws regarding advance notice of shareholder meetings and nominations, according to regulatory filings. DuPont's board approved the changes yesterday, 12 August, in advance of a possible disclosure that activist hedge fund Trian Fund Management (New York) has taken a stake in the company. DuPont shares soared 5.3% on 17 July following reports on CNBC that Trian acquired a large stake in the company. Trian declined comment, but...
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