Reported 6 months ago
DuPont announced a plan to split into three publicly traded companies, causing a 5% increase in its shares, with the aim of unlocking value and pursuing focused growth. The company will separate its electronics and water businesses in tax-free transactions, while the new DuPont will continue as a diversified industrial company. CFO Lori Koch will take over as CEO from June 1, replacing current CEO Ed Breen, who will become executive chairman. The split is expected to be completed within 18 to 24 months, with each company having the flexibility to pursue its own growth strategies. This move follows DuPont's previous split with DowDuPont in 2017.
Source: YAHOO