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"Isolation ... is not an option," Kullman said at the Council of
Institutional Investors' fall meeting in Boston on Wednesday.
In May, billionaire hedge fund manager Nelson Peltz, who runs
the $11 billion-asset Trian Management, narrowly lost his bid to
win four DuPont board seats. While Kullman did not mention Peltz
by name, her remarks showed DuPont remained open to shareholder
input despite that aggressive battle.
Kullman kept the hedge fund mogul at bay through strong
relations with big name institutional investors that sided with
the company, including BlackRock Inc and Vanguard Group, filings
in August showed.
"We must thoughtfully engage with all stakeholders, investors,
regulators, employees and we need to see the world through their
eyes," she said. "We need to truly understand the expectations
of our stakeholders and then we need to meet them, consistently
over time."
"We encourage our board members to pierce through our
operations," she said, noting that she likes demanding
questions.
DuPont's stock price "is a concern," Kullman said.
Since May 12, the day before the vote on Peltz's bid was
decided, DuPont shares have fallen 32 percent. They closed at
$48.20 on Wednesday.
(Reporting by Svea Herbst-Bayliss and Ross Kerber; Editing by
Richard Chang)
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