From Investing.com: 2024-05-22 18:01:35

DuPont announced a split into three publicly traded companies, causing shares to rise 5%. The electronics and water businesses will be separated in tax-free transactions, with the new DuPont remaining a diversified industrial company. CFO Lori Koch will become CEO on June 1, while Ed Breen transitions to executive chairman.

The split is expected to be completed in 18 to 24 months. Outgoing CEO Ed Breen stated that each company will have flexibility for focused growth strategies. Previously, DuPont and Dow merged in 2015 for $130 billion, later splitting into three companies. The new DuPont will include existing water, protection, industrial, and healthcare businesses, with nearly $6.6 billion in net sales in 2023.

The new DuPont will include the water and protection segment, industrial solutions, and healthcare end-markets. Notably, the liabilities related to PFAS and other indemnity obligations to Corteva will be allocated among the three companies pro-rata. The electronics company will focus on semiconductor technologies and interconnect solutions while the water company will concentrate on water solutions.



Read more at Investing.com: DuPont to split into three companies, replaces CEO Ed Breen By Reuters