German China India

USA: Management Strategy

Dupont’s Board of Directors Announce Structural Changes

| Editor: Ahlam Rais

The Board of Directors at Dupont has made these leadership changes to accelerate operational performance improvement and to more directly tap Ed Breen’s significant management experience.
Gallery: 1 image
The Board of Directors at Dupont has made these leadership changes to accelerate operational performance improvement and to more directly tap Ed Breen’s significant management experience. (Source: Deposit Photos)

Edward D. Breen who is currently the Executive Chairman at Dupont has also been handed over the Chief Executive Officer position by the Board of Directors at Dupont. In addition to this, Lori Koch has also been elected as the company’s Chief Financial Officer.

Delaware/USA – Dupont has recently announced that its Board of Directors has appointed current Executive Chairman Edward D. Breen to the additional role of Chief Executive Officer. Lori D. Koch, Vice President of Investor Relations and Corporate Financial Planning and Analysis, is named Chief Financial Officer. Both appointments are effective immediately.

The Board of Directors has made these leadership changes to accelerate operational performance improvement and to more directly tap Ed Breen’s significant management experience. As a result, Marc Doyle and Jeanmarie Desmond, who have served as CEO and CFO respectively, will depart the company.

“Since he first assumed the Chairman and CEO role of Dupont in 2015, Ed Breen led the company through an extensive transformation to further unlock the potential of its distinctive capabilities, innovative portfolio and deep customer relationships,” said Alexander M. Cutler, Dupont’s lead independent director.

“After careful consideration, the Board concluded now is the right time to make these leadership changes, including restoring Ed to the chief executive role to draw more directly on his substantial operating experience. The Board is confident that together Ed and Lori will improve operational performance and ensure Dupont fully delivers on its significant potential for long-term value creation.”

Specialist Book „Heat Transfer Technique“The comprehensive standard work „Heat Transfer Technique“ offers not only a detailed and well-founded presentation of the basics of heat transfer technique, but also shows the latest state of the art and the latest regulations in the use of organic fluids. Thematically, the book is rounded off with an overview of property data of organic heat transfer fluids as well as many use cases from practical experience.

“While we made some progress in 2019, we did not meet our own expectations and we now need to move aggressively to secure our foundation for growth,” said Ed Breen. “We have solid businesses, but, as we discussed on our recent earnings call, we need to accelerate operational improvement and make sure we are taking appropriate action to deliver on our commitments for the year.

“Lori Koch will be a great partner in this effort. She has delivered consistently excellent results across a substantial career as a finance leader at Dupont and has significant knowledge of our businesses. Lori has demonstrated her expertise in developing and executing the right financial strategy to support the achievement of our business objectives,” said Breen.

“I continue to have enormous confidence in this company and in our team. Delivering on our commitments and realising our full potential is my personal top priority. Consistent with this I will be transitioning from the Corteva board to focus fully on our work at Dupont,” Breen said.

The company will continue to advance the initiatives announced on its fourth quarter and year-end 2019 conference call to assure that its organisational and cost structures are right sized to reflect the ongoing portfolio changes. To ensure this initiative maintains the right level of rigor, Nick Fanandakis, former Dupont CFO, will serve as Senior Advisor to the CEO with a focus on driving the restructuring effort. His deep knowledge of the Dupont businesses and his proven ability to create shareholder value will ensure the company is better positioned to drive sustainable growth and profitability over the long term.

Comments are being loaded ....

Leave a comment

The comment is checked by an editor and will be released soon.

  1. Avatar
    Avatar
    Edited by at
    Edited by at
    1. Avatar
      Avatar
      Edited by at
      Edited by at

Comments are being loaded ....

Report comment

Kommentar Freigeben

Der untenstehende Text wird an den Kommentator gesendet, falls dieser eine Email-hinterlegt hat.

Freigabe entfernen

Der untenstehende Text wird an den Kommentator gesendet, falls dieser eine Email-hinterlegt hat.

copyright

This article is protected by copyright. You want to use it for your own purpose? Contact us via: support.vogel.de/ (ID: 46371696 / Business & Economics)