Ellen Kullman, chairwoman and Chief Executive Officer (CEO) of DuPont, an American chemical company, on 5 October 2015 announced retirement from her positions effective 16 October 2015. The sudden retirement is supposedly due to a battle with activist investor Nelson Peltz and his investment firm, Trian Fund Management.
DuPont has decided to appoint Edward Breen, chairman of Tyco International Plc and a current member of the DuPont Board of Directors, as the interim chair and CEO.
A former director of General Motors, Kullman had joined DuPont in 1988 as marketing manager in the company's medical imaging business. She was also ranked as the 31st of the 100 Most Powerful Women in 2014 by Forbes.
E. I. du Pont de Nemours and Company, commonly known as DuPont, was founded by Éleuthère Irénée du Pont in 1802. It was initially founded as a gunpowder mill.
The company started developing many kinds of polymers in the 20th century. It became the world's fourth largest chemical company based on market capitalization in 2014.
Now get latest Current Affairs on mobile, Download # 1 Current Affairs App