WILMINGTON, Del., Nov. 9, 2015 – 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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