Boards, by their poor decisions, can often destroy great companies. Examples: Past boards of General Motors, American Express, Gap, Jet Blue, Apple, Hewlett Packard, and Motorola.
Du Pont seems to a latest example of this psychological pathology.
Its CEO Ellen Kullman had to step down after disagreements with the Boards and an activist Hedge Fund investor Nelson Peltz.
Growtist’s view: Ellen Kullman was right and the Board was wrong. Well, science-based companies need time to be able to capture value from their R&D activities. An investor-driven short-term approach will not work here!Time will tell, and we will keep a watch!0