Santiago

WEEKS after billionaire investor Carl Icahn disclosed a stake in Freeport-McMoRan Inc, the mining and energy company abruptly revamped its board and said it was considering spinning off its oil and natural gas business.

The move is the latest in a series of manoeuvres by major corporations that are struggling to placate shareholders in the face of a debilitating collapse in world commodities prices. On Monday, DuPont Co announced its chief executive officer would resign, just months after narrowly winning a proxy battle against another activist shareholder, Nelson Peltz.