He's been in the top seat of the teflon maker before, and he's now in the top seat again.
DuPont (DD) - Get Report announced on Tuesday that former CEO and current Executive Chairman Edward Breen is taking over as CEO again - part of the company's ongoing plan to streamline its offerings and produce profits as a separate entity from its former sister company, Dow Inc. (DOW) - Get Report.
Shares of the chemical, teflon-coating and industrial products maker gained on Tuesday after the company announced the leadership changes, which also include promoting vice president of investor relations Lori Koch to the chief financial officer post.
Marc Doyle and Jeanmarie Desmond, who had been serving as CEO and financial chief, respectively, will depart effective immediately, DuPont said.
Breen has been behind the company’s restructuring that began in 2015 and more recently involved agreeing to a $26.2 billion merger with International Flavors & Fragrances (IFF) - Get Report – part of DuPont's long-term plan to streamline its portfolio, cut costs and boost profits.
DuPont last year became an independent company following the separation of Dow Inc.'s specialty products and agriculture businesses.
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