NEWS

logo.gif (1594 bytes)

NEWS

Press Releases NEWS PAGE COMPANY INDEX Press Releases

 

DuPont realigns senior leadership responsibilities; sets Pioneer Hi-Bred International Inc., post-merger executive roles
Wilmington, Delaware
July 30, 1999

DuPont today announced that two senior executives will realign responsibilities to better focus on major priorities related to the company's evolving pharmaceuticals, agriculture and nutrition strategy. The company also outlined senior executive roles for Pioneer Hi-Bred International, Inc. , which is expected to become a DuPont subsidiary following the closing late this summer of DuPont's plan to acquire the 80 percent of Pioneer that it doesn't already own. The merger is
subject to approval by the shareholders of Pioneer.

Kurt M. Landgraf , executive vice president and chief operating officer, will focus primarily on leading and implementing DuPont's pharmaceuticals strategy. DuPont announced in March that it planned to actively seek strategic alliances with other strong partners in the pharmaceutical industry to bring DuPont Pharmaceuticals to the critical mass necessary to ensure long-term success. Landgraf will retain responsibility for DuPont's consumer health presence in electronic commerce through its venture with WebMD. He will continue to have responsibility for the European region.

Richard R. Goodmanson, executive vice president and chief operating officer, will assume responsibility for the business and research units in the Agriculture and Nutrition business segment currently reporting to Landgraf.  He also will have overall responsibility for the integration of Pioneer into DuPont. Goodmanson will retain responsibility for the Asia Pacific region and for businesses in the Specialty Fibers and Performance Coatings and Polymers segments.

DuPont also said that, following the expected closing of the merger with Pioneer, it plans to name Charles S. Johnson, currently chairman, president and chief executive officer of Pioneer, to the position of DuPont executive vice president and member of the office of the chief executive, reporting to DuPont Chairman and CEO Charles O. Holliday Jr.

Succeeding Johnson as president and chief executive officer of Pioneer would be Jerry L. Chicoine, currently Pioneer's executive vice president and chief operating officer. He would report to Goodmanson.

The offering of DuPont stock in connection with the Pioneer merger will be made under an effective registration statement. A proxy statement/prospectus will be mailed to Pioneer shareholders later this summer.

DuPont is a science company, delivering science-based solutions that make a difference in people's lives in food and nutrition; health care; apparel; home and construction; electronics; and transportation. Founded in 1802, the company operates in 65 countries and has 92,000 employees.

Company news release
N2020

.0

Copyright © 1999 SeedQuest - All rights reserved