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Freeport revamps board; may spin off oil, natural gas business

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Published Wed, Oct 7, 2015 · 09:50 PM

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    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.

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