By Tess Stynes
A third proxy adviser offered support to Nelson Peltz's campaign
to get on the board of DuPont Co. but was the first to endorse his
entire slate of nominees.
Egan-Jones recommended the election of Mr. Peltz, chief
executive of activist investor Trian Fund Management LP, and his
three nominees to DuPont's 12-member board--John H. Myers, Arthur
B. Winkleblack and Robert J. Zatta.
A DuPont spokesman wasn't immediately available to comment.
Glass Lewis & Co. late Wednesday said shareholders should
elect Mr. Peltz to the chemical maker's board at its annual meeting
this month, citing DuPont's earnings disappointments in recent
years and its slowing revenue growth.
However, saying that the election of multiple dissident nominees
is "unwarranted," Glass Lewis didn't go as far as Institutional
Investor Services Inc., which earlier backed Messrs. Peltz and
Myers.
DuPont previously has said its stock performance has beaten the
broader market, that its board is already taking significant steps
to change, and that Mr. Peltz, if elected, would be focused on a
breakup that DuPont thinks is a bad idea.
--David Benoit contributed to this article.
Write to Tess Stynes at tess.stynes@wsj.com
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