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DuPont names Lori Koch as new CEO, Ed Breen to become Executive Chair

EditorLina Guerrero
Published 22/05/2024, 21:52
DD
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WILMINGTON, Del. - Chemical giant DuPont (NYSE: NYSE:DD) has announced a leadership transition with Lori D. Koch, the current Chief Financial Officer, set to take over as Chief Executive Officer from Edward D. Breen on June 1, 2024. Breen will assume the role of Executive Chairman of the Board of Directors on the same date. Koch is also expected to join the Board at its regularly scheduled meeting in June.

Antonella B. Franzen, presently CFO of DuPont’s Water and Protection segment, will step into Koch’s former role as CFO of the company, effective June 1, 2024.

Alexander M. Cutler, DuPont’s Lead Independent Director, expressed gratitude for Breen's leadership, which has steered the company through transformative times. He conveyed the Board's confidence in Koch as the right leader for DuPont's next chapter, with Breen continuing as a guiding partner.

Breen praised Koch for her significant impact as CFO and expressed confidence in her ability to accelerate DuPont's growth. He also endorsed Franzen as the incoming CFO, citing her strong partnership capabilities.

Koch, who will be at the helm of DuPont, shared her enthusiasm for the company's future and her eagerness to continue working with Breen and Franzen.

The company also reaffirmed its financial guidance for the second quarter and the full year of 2024, which was previously issued on May 1, 2024.

Koch's tenure as CFO of DuPont began in February 2020, and she has held various financial leadership roles within the company. Breen has been with DuPont since 2020, previously leading DowDuPont as CEO and serving as Chairman and CEO of Tyco International. Franzen has been with the Water & Protection segment since 2022 and brings experience from Johnson Controls (NYSE:JCI) International and Tyco.

InvestingPro Insights

As DuPont (NYSE: DD) prepares for a significant leadership transition, investors may be interested in the latest financial metrics and expert analysis to better understand the company's current position. With Lori D. Koch set to take the reins as CEO and the company reaffirming its financial guidance, DuPont's strategic moves and stability are reflected in the data and insights provided by InvestingPro.

InvestingPro Data indicates that DuPont has a market capitalization of $32.85 billion, underscoring its significant presence in the chemical industry. The company trades at a high earnings multiple, with a P/E Ratio (Adjusted) for the last twelve months as of Q1 2024 at 25.58. Despite a revenue decline of 6.11% during the same period, DuPont maintains a robust gross profit margin of 35.36%. This financial resilience is critical as Koch steps into her new role with a vision for growth and innovation.

Among InvestingPro Tips, it's notable that DuPont's management has been aggressively buying back shares, indicating confidence in the company's value and future prospects. Additionally, DuPont has consistently paid dividends for 54 consecutive years, with a current dividend yield of 1.91%, demonstrating a commitment to returning value to shareholders. For investors seeking more in-depth analysis, there are additional InvestingPro Tips available, which can be accessed on the platform.

Investors interested in exploring these insights further can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. This exclusive offer provides access to a wealth of data and expert analysis, helping investors make informed decisions in a dynamic market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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