DuPont CEO Edward Breen Collects $10 Million in 2015
18 März 2016 - 11:36PM
Dow Jones News
By Ezequiel Minaya
DuPont Co. paid Chief Executive Edward Breen total compensation
of $10 million in 2015, when he took over the post late in the year
following the sudden retirement of his predecessor.
Mr. Breen, a former CEO of Tyco International PLC, didn't
collect a base salary in 2015 and was instead awarded stock and
other options. In 2016, he will collect a base salary of $1.5
million. His predecessor Ellen Kullman collected a total of $12.3
million in 2015.
Ms. Kullman, who had led the company since 2009, turned away a
wave of activist investor agitation but ultimately stepped down in
October. Mr. Breen, when he took control as interim head of the
company, promised to take a "deep dive" into DuPont's cost
structure and capital allocations "to ensure we deliver appropriate
returns for our shareholders."
Not soon after his interim tag was removed, Mr. Breen was
approached by Andrew Liveris, longtime head of Dow Chemical Co. ,
with a merger proposal that would create a giant valued at $120
billion.
Mr. Breen is slated to assume the role of CEO of the resulting
enterprise, DowDuPont. Company officials hope regulators give
approval for the marriage by the end of 2016.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
March 18, 2016 18:21 ET (22:21 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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