DuPont CEO and CFO are both out in a shakeup of top management announced last week by the Delaware-based company.
Executive Chairman Ed Breen has assumed duties of CEO, and Vice President of Investor Relations and Corporate Financial Planning and Analysis Lori D. Koch has taken over as CFO.
Alexander M. Cutler, DuPont's lead independent director said the move was motivated by a desire to more fully leverage the companies innovative portfolio and deep customer relationships. Breen, who previously served as CEO of DuPont in 2015, has been identified by the board as the ideal candidate to move the company forward as CEO due to his substantial operating experience.
Breen and Koch move into their new roles after a 30 percent drop in DuPont's stock price over the past 12 months, replacing Marc Doyle and Jeanmarie Desmond.
Breen thanked Doyle and Desmond for their contributions to the company, saying "Most recently, they led the company through a period of important transition, and we are grateful for their dedication to DuPont over the course of their careers."
Alerts Sign-up