Ed Garden, chief investment officer of Trian Partners, is optimistic over the new transition plan announced on Tuesday for DowDuPont to split up into three companies.
“I think this is a fantastic outcome,” Garden said at the Delivering Alpha Conference in New York on Tuesday with DowDuPont CEO Edward Breen.
At issue was how the company would break down the combined company into three separate firms: agriculture, materials science and specialty products. The company now plans to move businesses totaling more than $8 billion in annual sales from its materials science division to the specialty-chemical unit. The change announced on Tuesday roughly aligns with some of the activists’ suggestions.
Trian Partners was founded by Nelson Peltz, Ed Garden and Peter May in 2005. It has more than $10 billion in assets under management and is known for its corporate activism.
– CNBC’s Tom DiChristopher contributed to this report.
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