WILMINGTON, Del., Nov. 9, 2015 /PRNewswire/ -- The DuPont
board of directors today announced it has named Edward D. Breen the
company's chair and chief executive officer (CEO), effective
immediately. Breen has served as interim chair and CEO of DuPont
since October 16, 2015, and joined
the company's board in February
2015.
"Ed Breen brings to DuPont an
exceptional track record of business leadership and value creation.
As a chief executive, he has consistently delivered superior
returns through robust growth and portfolio strategies, across a
range of industries. As a DuPont board member and interim chair and
CEO, Ed has rapidly and actively engaged in advancing the
transformation of DuPont," said Alexander M. Cutler, DuPont's lead
independent director. "The board has concluded he is the right
leader for the company. We could not be more pleased to appoint an
executive of his experience and caliber to lead DuPont through its
next stage of growth and achievement."
"Since joining the board and certainly over the last month while
serving as interim chair and CEO, I have developed a deep
appreciation of DuPont's fundamental strengths, significant
advantages and future potential," said Breen. "I look forward to
continuing to work closely with the team at DuPont and with the
board of directors to deliver fully on that potential for our
customers and our shareholders. In the near-term, we are
staying very close to our customers to deliver the value enhancing
solutions they expect from DuPont innovation – even as we work with
urgency to improve shareholder returns."
From 2002-2012, Breen served as chief executive officer of Tyco
International plc. Breen oversaw the design and implementation of
the comprehensive action plan to transform Tyco into the strong
market leader it is today, reviving the company from near
bankruptcy and rebuilding the company's brand and credibility. Over
the course of his tenure, Breen oversaw a highly successful
restructuring, including two break-ups of the company resulting in
the spin-offs of Covidien, Tyco Connectivity, ADT Corporation and
the merger of Tyco Flow Control with Pentair.
Prior to joining Tyco, Breen held senior management positions at
Motorola, including as president and chief operating officer, and
at General Instrument Corporation, including as chairman, president
and chief executive officer. At General Instruments, he created
significant long-term shareholder value by driving a revenue growth
strategy. Mr. Breen currently serves as chairman of Tyco and
a director of Comcast Corporation. Breen has been awarded numerous
governance awards including being named one of the "100 Most
Influential People in Business Ethics" by Ethisphere.
DuPont (NYSE: DD) has been bringing world-class science and
engineering to the global marketplace in the form of innovative
products, materials, and services since 1802. The company
believes that by collaborating with customers, governments, NGOs,
and thought leaders, we can help find solutions to such global
challenges as providing enough healthy food for people everywhere,
decreasing dependence on fossil fuels, and protecting life and the
environment. For additional information about DuPont and its
commitment to inclusive innovation, please visit
www.dupont.com.
Forward Looking Statements: This document contains
forward-looking statements which may be identified by their use of
words like "plans," "expects," "will," "believes," "intends,"
"estimates," "anticipates" or other words of similar meaning. All
statements that address expectations or projections about the
future, including statements about the company's strategy for
growth, product development, regulatory approval, market position,
anticipated benefits of recent acquisitions, timing of anticipated
benefits from restructuring actions, outcome of contingencies, such
as litigation and environmental matters, expenditures and financial
results, are forward looking statements. Forward-looking statements
are not guarantees of future performance and are based on certain
assumptions and expectations of future events which may not be
realized. Forward-looking statements also involve risks and
uncertainties, many of which are beyond the company's control. Some
of the important factors that could cause the company's actual
results to differ materially from those projected in any such
forward-looking statements are: fluctuations in energy and raw
material prices; failure to develop and market new products and
optimally manage product life cycles; ability to respond to market
acceptance, rules, regulations and policies affecting products
based on biotechnology; significant litigation and environmental
matters; failure to appropriately manage process safety and product
stewardship issues; changes in laws and regulations or political
conditions; global economic and capital markets conditions, such as
inflation, interest and currency exchange rates; business or supply
disruptions; security threats, such as acts of sabotage, terrorism
or war, weather events and natural disasters; ability to protect
and enforce the company's intellectual property rights; successful
integration of acquired businesses and separation of
underperforming or non-strategic assets or businesses, including
timely realization of the expected benefits from the separation of
Performance Chemicals. The company undertakes no duty to update any
forward-looking statements as a result of future developments or
new information.
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SOURCE DuPont