The ouster of DuPont CEO Ellen Kullman shows just how important it is for industrial conglomerates to get their houses in order and create shareholder value. Other chief executives may be in the hot seat when companies start to report third-quarter earnings Thursday, led by Alcoa AA, +5.48%
Kullman had defeated an effort by Trian Fund Management LP, the activist investor group led by Nelson Peltz, to gain seats on DuPont’s DD, +7.66% board of directors in May.
But by the time of the Kullman news Monday, DuPont’s stock already was down 25% this year. The company moved so fast, it didn’t have enough time to find a permanent successor. (Edward Breen, a member of the company’s board and the chairman of Tyco International PLC TYC, +0.86% was named interim CEO.)
