DuPont Plans To Separate Into Three Companies; Appoints Lori Koch As CEO

(RTTNews) - DuPont (DD) announced a plan to separate into three publicly traded companies. It will separate its Electronics and Water businesses, while New DuPont will continue as a diversified industrial company.

DuPont expects to complete the separations within 18 to 24 months.

New DuPont will be comprised of the existing businesses within the Water & Protection segment (excluding Water Solutions), the majority of businesses within Industrial Solutions , and the retained businesses reported in Corporate. These businesses generated net sales of about $6.6 billion in 2023.

Electronics company will be comprised of the existing Semiconductor Technologies and Interconnect Solutions lines of business, as well as the electronics-related product lines from Industrial Solutions. These businesses generated net sales of about $4.0 billion in 2023.

Water company will be comprised of DuPont's current Water Solutions line of business which generated net sales of about $1.5 billion in 2023.

In a separate press release, DuPont announced that its board has appointed Lori Koch, DuPont's Chief Financial Officer, to succeed Edward Breen as the company's Chief Executive Officer. Effective June 1, 2024, Breen will transition from the role of CEO to full-time Executive Chairman of the Board of Directors. Additionally, Koch is expected to join the Board of Directors at its next regularly scheduled meeting in June.

Also, effective June 1, 2024, Antonella Franzen, Chief Financial Officer of DuPont's Water and Protection segment is appointed DuPont's Chief Financial Officer.

DuPont reaffirmed its second quarter and full year 2024 financial guidance for net sales, operating EBITDA and adjusted earnings per share.