FX.co ★ DuPont Plans To Separate Into Three Companies; Appoints Lori Koch As CEO

DuPont (DD) has unveiled a strategy to break into three publicly traded entities. The company's Electronics and Water segments will be separated, while the new entity, New DuPont, will remain as a diversified industrial entity.

The firm anticipates that these separations will be finalized within the next 18 to 24 months.

New DuPont will encompass the existing businesses within the Water & Protection segment (excluding Water Solutions), most of the operations within Industrial Solutions, along with the retained businesses reported under Corporate. These divisions collectively generated approximately $6.6 billion in net sales in 2023.

The Electronics company will integrate the current Semiconductor Technologies and Interconnect Solutions business lines, in addition to the electronics-related product lines from Industrial Solutions. In 2023, these segments reported net sales of roughly $4.0 billion.

The Water company will include DuPont's existing Water Solutions business, which yielded around $1.5 billion in net sales in 2023.

In a separate announcement, DuPont declared that its Board of Directors has appointed Lori Koch, the current Chief Financial Officer, to succeed Edward Breen as Chief Executive Officer. Effective June 1, 2024, Breen will transition from his role as CEO to become the full-time Executive Chairman of the Board of Directors. Koch is also expected to join the Board at its upcoming regular meeting in June.

Furthermore, effective June 1, 2024, Antonella Franzen, currently the Chief Financial Officer of DuPont's Water and Protection segment, will assume the role of Chief Financial Officer of DuPont.

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