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What’s Ellen Kullman Hiding from DuPont Shareholders?

Kullman’s ill-conceived spinoff of the Performance Chemicals Division ignores enormous, undisclosed liabilities. Investors should pay close attention to this proposed transaction and its similarities to the troubled Kerr-McGee spinoff from a few years ago.

Sign up to find out what else Kullman is hiding from DuPont’s shareholders.

 

 

 

 

 

In 2006, Kerr-McGee sought to rid itself of its low-margin chemical division, which was saddled with environmental liabilities, by forming a new company called Tronox.

Less than three years after the separation, Tronox filed for bankruptcy and sued Kerr-McGee. An EPA and DOJ investigation ensued, leading federal prosecutors to state that Tronox was unfairly burdened with liabilities that contributed to its bankruptcy. In 2014, it cost over $5.15 billion to settle Kerr-McGee’s flawed spinoff, the largest environmental settlement in history.

Is Chemours the next Tronox – costing DuPont shareholders billions down the road? That’s a question Kullman just hasn’t answered.

Keep Your Promises is a community-based organization whose members have lived and worked in the Greater Mid-Ohio Valley for their whole lives. We have seen first-hand the damage DuPont has done to our communities through the use and contamination of C-8, and we are dedicated to holding DuPont accountable to the promises they made to our communities.