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WILMINGTON, Del. - DuPont (NYSE:DD), the $32 billion market cap technology-based materials leader, has announced the selection of board members for its future Electronics spin-off company, expected to be established as an independent entity by November 1, 2025. According to InvestingPro data, DuPont has maintained dividend payments for an impressive 55 consecutive years, demonstrating long-term financial stability. The board, referred to as the "Electronics Board," will consist of nine members, bringing a diverse range of expertise to guide the new company’s strategic direction and growth. With annual revenues of $12.4 billion and EBITDA of $3.1 billion in the last twelve months, DuPont’s strategic decisions carry significant weight in the industry.
Alexander M. Cutler, DuPont’s Lead Independent Director, emphasized the importance of the board’s composition in driving innovation and shareholder value. The Electronics Board will include Michael Stubblefield, current President and CEO of Avantor, as Chairman, and Jon Kemp, President of DuPont’s Electronics division and CEO-elect of the spin-off, as a director.
Three DuPont board members will transition to the Electronics Board as independent directors: Terrence R. Curtin, CEO of TE Connectivity; Steven M. Sterin, Senior Advisor to McKinsey & Company; and Dr. Kristina M. Johnson, former President of The Ohio State University. Additionally, Byron Green, former Vice President of Global Operations at L3Harris Technologies, and Dr. Shumeet Banerji, founder of Condorcet, LP, have been announced as independent directors.
The remaining board members will be named following an extensive search process. Kemp expressed confidence in the assembled board’s ability to position the Electronics company as a leader in the industry through innovation and strategic growth. InvestingPro analysis reveals that six analysts have recently revised their earnings expectations upward for the upcoming period, suggesting positive momentum for the company’s strategic initiatives. For deeper insights into DuPont’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
DuPont, a global leader in technology-based materials and solutions, is targeting the spin-off of its Electronics business without requiring shareholder approval, subject to customary conditions and regulatory approvals. The spin-off is part of DuPont’s strategic focus on high-growth markets and is expected to enhance its position in the electronics sector. The company currently maintains a healthy 2.15% dividend yield and has demonstrated consistent dividend growth, with a 13.9% increase in the last twelve months.
The information in this article is based on a press release statement.
In other recent news, DuPont has announced the appointment of Jon Kemp as CEO of its forthcoming independent electronics unit, a move aligned with its planned spinoff of the business. The spinoff, which includes the electronics division valued at approximately $6 billion, is expected to be finalized by November 1, 2025. Citi has maintained its Buy rating for DuPont, with a price target of $95, expressing optimism about the growth potential and value creation from this strategic move. Meanwhile, BMO Capital Markets has raised its price target for DuPont from $112 to $116, maintaining an Outperform rating and identifying the company as a Top Pick due to its investment potential.
Additionally, DuPont Water Solutions has launched WAVE PRO, an advanced online modeling tool for ultrafiltration water treatment processes. This tool is designed to optimize ultrafiltration systems for various applications, including drinking water and wastewater treatment. The launch underscores DuPont’s commitment to advancing water treatment technologies and supporting customer objectives. These developments reflect DuPont’s ongoing transformation and strategic initiatives aimed at enhancing its market position and operational capabilities.
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