DowDuPont announces Boards of Directors of the three future independent companies
DowDuPont has announced the members of the Boards of Directors of the three future independent companies: Dow, DuPont, and Corteva Agriscience. DowDuPont said it remains on track to separate the Materials Science division (Dow) by 1 April 2019, and the Agriculture (Corteva Agriscience) and Specialty Products (DuPont) divisions by 1 June 2019. The current composition of each board of directors is as follows:
- Jeff M. Fettig, executive chairman and co-lead independent director of DowDuPont, and chairman, Whirlpool Corp. (future non-executive chairman of Dow)
- Ajay Banga, president and CEO, MasterCard Inc.
- Jacqueline K. Barton, Arthur and Marian Hanisch Memorial professor of Chemistry, California Institute of Technology
- James A. Bell, former EVP, corporate president and CFO, The Boeing Company
- Wesley G. Bush, chairman and CEO of Northrop Grumman
- Richard K. Davis, CEO of Make-A-Wish America (effective 2 January 2019) and former chairman and CEO, U.S. Bancorp
- Jim Fitterling, COO of the Materials Science Division of DowDuPont and CEO, The Dow Chemical Company
- Jacqueline Hinman, former chairman and CEO of CH2M
- Dennis H. Reilley, non-executive chairman, Marathon Oil Corp.
- Ruth G. Shaw, former group executive, public policy and president, Duke Nuclear
- Daniel Yohannes, former ambassador to the Organisation for Economic Co-operation and Development
- Edward D. Breen, CEO of DowDuPont (future executive chairman of DuPont)
- Ruby R. Chandy, former president of Industrial Division of Pall Corp.
- Alexander M. Cutler, co-lead independent director of DowDuPont and former chairman and CEO of Eaton
- Marc Doyle, COO of the Specialty Products Division of DowDuPont and CEO-elect of DuPont
- Eleuthère I. du Pont, former president and CFO of Wawa and president of The Longwood Foundation
- Rajiv L. Gupta, chairman of Aptiv PLC (formerly Delphi Automotive PLC) and former chairman and CEO of Rohm & Haas
- Luther C. Kissam, IV, chairman, president and CEO of Albemarle Corp.
- Raymond J. Milchovich, former chairman and CEO of Foster Wheeler AG
- Steven Sterin, former EVP, CFO of Andeavor and former president of Andeavor Logistics
For Corteva Agriscience:
- Greg Page, retired chairman and CEO of Cargill, Inc. (future non-executive chairman of Corteva)
- Lamberto Andreotti, former chairman of the board and CEO of Bristol-Myers Squibb
- Edward D. Breen, CEO of DowDuPont
- Robert A. Brown, president of Boston University
- James C. Collins Jr., COO of the Agriculture Division of DowDuPont and CEO-elect of Corteva Agriscience
- Michael O. Johanns, retired United States senator
- Lois D. Juliber, former vice chairman of Colgate-Palmolive Company
- Lee M. Thomas, former chairman and CEO of Rayonier Inc.
- Patrick J. Ward, CFO of Cummins Inc.
The non-executive members of the future boards will continue to serve on the advisory committees of their respective divisions (Materials Science, Specialty Products, and Agriculture) until the boards become effective at the time of the separations.
Jeff M. Fettig, executive chairman of DowDuPont, said, “The establishment of highly qualified boards is a critical milestone for the three industry-leading growth companies we are creating. Using a rigorous and thorough process, we have formed boards with diverse perspectives and experience to oversee the execution of the value creation strategy of each future company. I have confidence in these board members, and look forward to their contributions at Dow, DuPont, and Corteva Agriscience.”
Ed Breen, chief executive officer (CEO) of DowDuPont, said, “These board members have been working closely with the management teams, defining strategy, building efficient organisational structures, and overseeing value capture and execution. They bring the optimal mix of experience in capital allocation, global business management, and industry-specific expertise to help prepare the independent companies for sustainable success and drive shareholder value creation.”