WILMINGTON, Delaware (From The Wilmington (Del.) News Journal) -- DuPont emerged from a bitter proxy war on Wednesday 13 May 2015 with its Board of Directors slate intact, as none of activist investor Nelson Peltz's four nominees won a seat.

Trian Fund Management issued a statement even before the results were announced, conceding defeat, "We are proud of the role we played as a positive change agent at DuPont. The vote was close. ... We will continue to closely monitor DuPont's performance."

DuPont announced the results barely 30 minutes after Wednesday morning's annual shareholder's meeting began at its Chestnut Run, Del., headquarters and the crowd broke out in applause.

CEO Ellen Kullman addressed shareholders after the announcement.

"The people of DuPont will ensure the future will match the company's great history," she said, saying she was encouraged by the enormous feedback she received from shareholders during the proxy fight.. "We're not finished. There's more work to be done to realize our potential. We look forward to build on our strong momentum."

Peltz's Trian Fund Management initiated a proxy war in January to gain four seats on DuPont's 12-member board. The New York hedge fund owns 2.7% of DuPont, a stake estimated to be worth $1.8 billion.