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DuPont CEO and CFO to leave company

February 19/2020

MOSCOW (MRC)--DuPont’s CEO Marc Doyle and CFO Jeanmarie Desmond will be leaving the company, effective immediately, as it aims to "accelerate" an improvement in performance, said the company. 

DuPont has announced that its Board of Directors has appointed current Executive Chairman Edward Breen to the additional role of CEO. In addition, Lori Koch, VP of Investor Relations and Corporate Financial Planning and Analysis, has been named Chief Financial Officer.

Both appointments are effective immediately.

The Board of Directors has made these leadership changes to accelerate operational performance improvement and to more directly tap Ed Breen’s significant management experience. As a result, Marc Doyle and Jeanmarie Desmond, who have served as CEO and CFO respectively, will depart the company.

"Since he first assumed the Chairman and CEO role of DuPont in 2015, Ed Breen led the company through an extensive transformation to further unlock the potential of its distinctive capabilities, innovative portfolio and deep customer relationships,” said Alexander Cutler, DuPont’s lead independent director. “After careful consideration, the Board concluded now is the right time to make these leadership changes, including restoring Ed to the chief executive role to draw more directly on his substantial operating experience."

"The Board and I deeply appreciate Marc and Jean’s significant contributions over decades of service to the company,” said Ed Breen. “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.

As it was written earlier, BASF and DuPont Safety and Construction declared that the companies inked an agreement wherein BASF will sell its ultrafiltration membrane business to DuPont.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,093,260 tonnes in 2019, up by 6% year on year. Shipments of all PE grades increased. PE shipments rose from both domestic producers and foreign suppliers. The estimated PP consumption in the Russian market was 1,260,400 tonnes in January-December 2019, up by 4% year on year. Supply of almost all grades of propylene polymers increased, except for statistical copolymers of propylene (PP random copolymers).

DuPont makes a broad array of industrial chemicals, synthetic fibres, petroleum-based fuels and lubricants, pharmaceuticals, building materials, sterile and specialty packaging materials, cosmetics ingredients, and agricultural chemicals. It has plants, subsidiaries, and affiliates worldwide.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, crude oil, PP, PE, petrochemistry, Crude oil, DuPont.
Category:General News
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