Nelson Peltz loses proxy battle with DuPont

Legendary shareholder activist Nelson Peltz this week lost — for the first time — a proxy fight that went all the way to a shareholder vote when DuPont equity investors elected the entire slate of the company’s 12 directors.

His only other proxy fight that went to a vote for Peltz was a 2006 contest against H.J. Heinz, in which he won two of five contested board seats and was, basically speaking, victorious.
Typically, Peltz settles with his target for a board seat or two, or retreats if he believes he is going to lose.

However, his record when it comes to actual elections is better than that of New York proxy solicitor MacKenzie Partners, which is now zero for two in Peltz proxy battles decided by shareholders.
MacKenzie advised Peltz in the unsuccessful DuPont fight, and repped Heinz when it anticipated a battle and needed to defend itself against Peltz.

MacKenzie did not return calls.