JOURNAL ARTICLE

DuPont to Split Into Three Companies as CEO Breen Steps Back.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Porter, Kiel; Dawson, Chester 3 of 3

Abstract

DuPont de Nemours Inc. has announced plans to split into three separate publicly traded companies. The company will separate its electronics and water units through tax-free transactions, while the remaining operations will focus on industries such as biopharma and medical devices. This move follows a trend among industrial conglomerates seeking to increase shareholder value by breaking into smaller, more focused businesses. DuPont's CEO, Ed Breen, will step down on June 1, with CFO Lori Koch assuming the CEO position. The company expects to complete the separations within 18 to 24 months, pending shareholder and regulatory approval. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/05, pN.PAG
  • Document Type:Article
  • Subject Area:Biotechnology
  • Publication Date:2024
  • Accession Number:177399264
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