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  "documentTitle": "E.I. du Pont de Nemours and Company (DuPont) (DD)",
  "authorId": "06_Trian_Partners",
  "authorName": "Nelson Peltz",
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  "presentationDate": "2015-04-21 00:00:00",
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  "notes": "The slide uses a line chart to annotate key corporate events (divestitures/acquisitions) against a 16-year stock price trend.",
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      "kind": "callout",
      "text": "Unaffected Stock Price(4) Has Declined -11% Since the Separation of Conoco (16+ years) And Down -20% From Peak (5/20/98)",
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      "text": "Stock price performance from May-98 to Jan-15 with key event annotations.",
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      "kind": "disclaimer",
      "text": "Source: Bloomberg, Capital IQ as of 4/16/15 and SEC Filings. (1)-(5) footnotes.",
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      "text": "Since '98, DuPont has continually restructured the portfolio to no avail. Management claimed DuPont would be positioned for higher growth and profitability at the sale of INVISTA. Yet, DuPont's stock price has declined over a 16 year period.",
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      "text": "Total Shareholder Return: -11%",
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      "kind": "quote",
      "text": "\"With the anticipated sale of INVISTA, DuPont will be a smaller company with the potential for higher growth and profitability...But unlocking that potential means doing things differently. If we are to meet our earnings growth objectives – which we will – we cannot support the complexity and cost entailed by diverse and specialized organizations and processes. The actions we are announcing today are necessary to ensure the near- and long-term competitiveness of DuPont.\" — Press release, 12/1/2003",
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      "text": "TSR comparison: DuPont 55%, S&P 500 144%, S&P Chem 257%",
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      "kind": "title",
      "text": "DuPont Has Been Pursuing The \"Higher Growth, Higher Value\" Strategy For Years, Which Has Only Led to Declines",
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