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Comment Business & Economics

DuPont announces immediate change of CEO

By Dorothy Lozowski |

DuPont (www.dupont.com) announced that its Board of Directors has appointed current executive chairman Edward D. Breen to the additional role of chief executive officer (CEO). Lori D. Koch, vice president of Investor Relations and Corporate Financial Planning and Analysis, is named chief financial officer (CFO).  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.

 

The company will continue to advance the initiatives announced on its fourth quarter and year-end 2019 conference call to assure that its organizational 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.

 

The full press release can be found on the DuPont website.

 

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