Dupont Shocking News: Kullmann Resigned from the US-Based Chemical Company Dupont
The chairman of the US-based chemical company Dupont Ellen Kullmann has surprisingly submitted her resignation on 16th October 2015. For the time being, the company affaires are managed by Edward Breen with its head office in Wilmington, Delaware/USA. Different media speculate the resignation as a consequence of the current savings program and the correction of profits forecast for 2015.
Wilmington, Delaware/USA – Dupont is one of the largest chemical companies worldwide with an annual turnover of 34.7 billion Dollars and 63,000 employees (both the figures from 2014). In the previous year, Dupont was at 87th position in the fortune 500 ranking of 500 companies of the world with highest turnover. Ellen Kullmann headed the fortunes of the US-based company Dupont since 2009.
Dupont was often in the headlines due to the conflict between Kullmann and New York finance investor Nelson Peltz regarding the future direction of the company. Peltz is one of the major shareholders of Dupont with his investment company Trian Fund Management and demanded major cost reductions and demerger of the group according to the Manager Magazin. Kullmann considered this proposal as very risky and costly.
Policy of savings for Dupont shall be retained
According to the media reports, the current policy of savings should be continued. Till the end of 2016, Dupont wants to save 1.3 billion Dollars and till the end of 2017, the savings are expected to be 1.6 billion Dollars.