WILMINGTON, Del., July 23, 2013 /PRNewswire/ -- Taking the next steps in its transformation to a higher growth company, DuPont today is realigning its leadership team to accelerate its integrated science execution across the company and is exploring strategic alternatives for its Performance Chemicals segment. These steps are part of DuPont's transformation to a higher growth, less cyclical company that integrates its unique scientific capabilities in biology, chemistry and materials to develop differentiated, high-value solutions in the attractive agriculture and nutrition, industrial biosciences and advanced materials markets worldwide.
To accelerate the execution of its applied integrated science strategy across its businesses, James C. Collins, Jr., who currently leads the Industrial Biosciences business, will become senior vice president, reporting to DuPont Chair and CEO Ellen Kullman, and will oversee the Industrial Biosciences, Performance Polymers and Packaging & Industrial Polymers businesses. Collins will accelerate the integration of DuPont's rapidly growing and leading industrial biotechnology into its wide-ranging advanced materials businesses, as demand for renewably sourced materials expands steadily. A 29-year veteran of DuPont, Collins led the Danisco acquisition integration team before assuming his current role.
In addition, Matthew L. Trerotola will rejoin DuPont and report to Kullman as senior vice president with responsibility for the Protection Technologies, Building Innovations, and Sustainable Solutions businesses. He will be accountable for driving improved execution and accelerate growth in these businesses. A previous DuPont corporate officer, Trerotola is familiar with DuPont's strong brands including DuPont™ Kevlar®, Tyvek® and Nomex®. Most recently, he was vice president and group executive of life sciences for the Danaher Corporation.
DuPont's consideration of strategic alternatives for its Performance Chemical segment may include a full or partial separation of each of these businesses from the company through a spin-off, sale or other transaction. The segment includes Titanium Technologies and Chemicals & Fluoroproducts businesses which generated total sales of $7.2 billion in 2012. DuPont may pursue a different strategic alternative for each business.DuPont's decision to explore strategic alternatives for its Performance Chemicals businesses reflects its ongoing portfolio review to determine how best integrated science can contribute to growth and the optimal mix of businesses for maximizing shareholder value. This follows DuPont's sale of its Performance Coatings business earlier this year and the acquisition of Danisco in 2011.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV