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DowDuPont Taps Leaders of New Companies

Wednesday, October 24, 2018

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Holding company DowDuPont—comprised of The Dow Chemical Company (Midland, Michigan) and DuPont (Wilmington, Delaware), which merged last year—recently announced its senior leaders for the upcoming separation of its divisions into three companies.

The Separation

DowDuPont announced the company names and separation parameters in March, which include:

  • The Materials Science division, which will be called Dow, retaining the Dow diamond as its brand;
  • The Specialty Products division, which will be the new DuPont; and
  • The Agriculture division, which will be called Corteva Agriscience, which the company says reflects its purpose of “enriching the lives of those who produce and consume."
The Dow Chemical Company

Holding company DowDuPont—comprised of The Dow Chemical Company (Midland, Michigan) and DuPont (Wilmington, Delaware), which merged last year—recently announced its senior leaders for the upcoming separation of its divisions into three companies.

“Our selection of these company names is a major milestone in the process of creating three strong, independent companies, and each name reflects the unique strengths and value proposition of the company it will represent,” said Ed Breen, chief executive officer of DowDuPont.

“As we move forward, a critical part of our work will be to build and strengthen the global corporate brands that express the commitment we are making to our customers, employees, investors and all of our stakeholders, to grow value through innovation.”

In addition to tapping leadership for Corteva and DuPont, the firm announced the Breen will become the executive chairman of DuPont following the separation.

The senior leaders of Corteva Agriscience include:

  • James C. Collins, Jr., currently chief operating officer of the Agriculture Division, will be chief executive officer;
  • Greg Friedman, currently head of finance for the Agriculture Division and vice president, DuPont Investor Relations, will be executive vice president, chief financial officer; and
  • Cornel Fuerer, currently head of legal for the Agriculture Division, will be senior vice president, general counsel.

The senior leaders of DuPont include:

  • Marc Doyle, currently chief operating officer of the Specialty Products Division, will be chief executive officer;
  • Jeanmarie Desmond, currently head of finance for the Specialty Products Division and co-controller of DowDuPont, will be executive vice president, chief financial officer; and
  • Erik Hoover, currently head of legal for the Specialty Products Division, chief compliance officer for DuPont and assistant secretary for DowDuPont, will be senior vice president, general counsel.

The firm previously announced that Jim Fitterling will become chief executive officer; Howard Ungerleider will become president and chief financial officer; and Amy Wilson will become general counsel of Dow upon completion of the Materials Science Division's separation from DowDuPont, which is expected to occur by April 1, 2019. The boards of directors of the three future companies are expected to be finalized and announced by the end of this month.

The separation of Corteva and DuPont is expected to occur by June 1, 2019.

   

Tagged categories: Business matters; Dow Chemical Company; DowDuPont; DuPont; Mergers; Personnel

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