Tuesday, September 18, 2018 2:00 pm
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WILMINGTON, Del. (From news reports) -- DowDuPont said on Monday Chief Executive Officer Edward Breen will take over as the executive chairman of its specialty-products unit, after the chemicals major separates into three different units.
Dow and Dupont, which completed its $130 billion merger last September to form DowDuPont, had said it would create three separately traded companies, focusing on agriculture, plastics and specialty products.
Breen had spearheaded the merger at that time.
The separation of its specialty products division, to be called DuPont and its agriculture unit, to be named Corteva Agriscience is expected to occur by June 1, 2019.
James Collins Jr. currently the chief operating officer of DowDuPont's agriculture business, will be heading Corteva while specialty products unit's Chief Operating Officer Marc Doyle will become its chief executive officer.
The company also reaffirmed Jim Fitterling, the chief operating officer of its materials business, to be called Dow, will become its chief executive officer.