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Investment

DowDuPont names new leaders for DuPont, Corteva

Ed Breen will stay on as chairman of the new DuPont

by Alexander H. Tullo
September 22, 2018 | APPEARED IN VOLUME 96, ISSUE 38

 

09638-buscon7-breencxd.jpg
Credit: DowDuPont
Ed Breen
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Credit: DowDuPont
Marc Doyle
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Credit: DowDuPont
James Collins

Advancing closer to breakup into three separate companies, DowDuPont has named the top leadership at two of the firms, the new DuPont and Corteva Agriscience.

Marc Doyle will become CEO of DuPont. He is currently the head of DowDuPont’s specialty products division, which will become DuPont when it separates from DowDuPont by next June. The new DuPont will have annual sales of about $21 billion.

Doyle will report to current DowDuPont CEO Ed Breen, who will stay on as executive chairman of DuPont.

James C. Collins, who now leads DowDuPont’s agriculture division, will head Corteva, which will combine the agricultural chemical and seeds businesses of both Dow and DuPont. Corteva will also separate from DowDuPont by next June. It will have about $14 billion in annual revenues.

The designated heads of the firms are both chemical engineers and longtime DuPonters. Collins had been with DuPont since 1984, Doyle since 1995.

Breen became CEO of DuPont in 2015 and immediately negotiated the deal to merge with Dow Chemical. From 2002 to 2012, he ran Tyco International, breaking up that conglomerate into many spin-off firms. He has indicated that he would be frugal with DuPont’s R&D and capital spending dollars.

In March, DowDuPont named longtime Dow executive James Fitterling as head of the new Dow, which will have about $45 billion in sales. That company filed a Form 10 Registration Statement with the U.S. Securities & Exchange Commission earlier this month for separation by next April.

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