DuPont and The Dow Chemical Company have decided further executive appointments ahead of the proposed merger of the two businesses and separation of the combined agricultural activities into a separate independent seed and crop protection company within 24 months of completion. The proposal is still subject to regulatory scrutiny, although the partners hope to close the deal by the end of the year.
The company has already named Dow chairman and chief executive Andrew N Liveris as executive chairman of DowDuPont, with DuPont chair and chief executive Edward D Breen as chief executive officer of DowDuPont, including responsibility for the Agriculture business.
New senior leadership team appointments include Howard Ungerleider as chief financial officer for DowDuPont. He is currently vice chairman and chief financial officer of Dow, with executive oversight for Dow AgroSciences. James C Collins Jr will become chief operating officer for DowDuPont’s Agriculture business. His present job is executive vice president for DuPont and leader of its Agriculture business segment.
The full DowDuPont board and other leadership roles will be announced prior to the closing of the merger. At this point, the board will establish an advisory committee to oversee the business affairs of the Agriculture business ahead of the separation. This committee will develop a capital structure and select the leadership team.
“The leadership teams will be responsible for quickly integrating the companies, capturing our anticipated cost and revenue synergies and working to operate as independent business divisions as soon as possible after the merger closes,” says Mr Breen.