Wilmington / DE. (dp) Ellen Kullman, Chair and CEO of E. I. du Pont de Nemours and Company – DuPont – retired from the company effective October 16. On that date, Edward Breen, a current member of the DuPont Board of Directors, has assumed the role of Interim Chair and CEO of DuPont. The Board has engaged an executive recruitment firm to identify a full-time replacement.
«Over the past seven years, with the dedication of our entire team, we have transformed this great company by focusing our portfolio, streamlining the organization, and driving innovation that leverages our unique science and engineering capabilities. With a strong foundation in place now is the right time for a new leader to continue to drive the pace of change to capitalize fully on the opportunity ahead», said Kullman. «I want to express my sincere thanks and admiration to all of my DuPont colleagues around the world. I have complete confidence that they will realize the enormous potential of the next generation DuPont».
«We thank Ellen for her extraordinary leadership as Chair and CEO of DuPont. During more than 27 years with the company, Ellen has consistently led constructive change by focusing the organization on identifying and solving our customers’ needs. As our Chair and CEO, Ellen led DuPont through the global recession and the dramatic transformation of the last several years with the highest standard of integrity and commitment», said Alexander Cutler, DuPont’s Lead Independent Director.
«Ed Breen’s record of achievement and broad experience make him well-suited to lead the company while the Board completes its search for the next executive to lead DuPont», Cutler said.
«Ellen is an outstanding leader and the entire Board appreciates her long record of accomplishment at DuPont», said Breen. «As we confront a challenging environment, she and the management team already have taken actions to accelerate cost reductions. Looking ahead, we will continue to drive productivity, and we plan to conduct a deep dive into the details of our cost structure and allocation of capital to ensure we deliver appropriate returns for shareholders. DuPont’s unique science capabilities and leading positions in attractive growth markets are strong competitive advantages and we are committed to build on that base to drive DuPont’s performance».
