American chemical company DuPont has split its business into three different entities. The 220-year-old company, with its origins in the 19th century, has split into DuPont De Nemours Inc., Corteva Inc., and Dow Inc.
Split in Three
In this, DuPont De Nemours and Dow will be focusing on the chemical business. Meanwhile, Corteva's focus will be oriented in its agriculture products business.
According to the company, this split will allow the company to explore and maintain focus on business with better emphasis.
The shares of all three companies listed on the market saw movement in share prices. DuPont De Nemours's shares declined by 1.22 per cent to reach USD 78.55. Meanwhile, after the markets closed, post-market activity saw the value rise to 82.72.
Meanwhile, Dow saw a 2.22 per cent decline, with its shares closing at USD 57.60. The agriculture chemical and seed company Corteva saw its shares end the day in green, as it saw a 0.58 per cent jump to take the overall numbers to USD 56.98.
In addition, the company also announced a shuffle in the ranks as it named CFO Lori Koch as CEO from June 1. Ed Breen, the current CEO, will take on the responsibility of executive chairman. |
Lori Koch To Be The New CEO
Dupont churned out a total revenue of USD 12.1 billion in 2023. In addition, the company has a total asset worth USD 38.6 billion.
In addition, the company also announced a shuffle in the ranks as it named CFO Lori Koch as CEO from June 1. Ed Breen, the current CEO, will take on the responsibility of executive chairman.
DuPont has an infamous past, it has been involved in countless controversies surrounding the contamination of natural resources, crucial to existence. The company has been accused of having produced, marketed, and most significantly profited from PFAS or forever chemicals for decades.
This, according to many, is also adding to contamination on a global scale. In addition, they have also been accused of leaving groundwater contaminated, affecting the health of generations by relinquishing these chemicals into countless human bodies.
