DuPont plans to split into three listed companiespokeronline247, join a group of industrial conglomerates seeking to increase returns by segmenting smaller and more business-focused segments.
The company announced on Wednesday that it would split its electronics and water businesses through duty-free deals, with the remaining business focusing on industries such as biopharmaceutical and medical device products including Tyvek and Kevlar.
Prior to this, a series of benchmark companies such as Johnson & Johnson, United Technologies, Danaher and General Electric have all been spun off in recent years in an effort to create more value for shareholders.
DuPont said CEO Ed Breen will step down on June 1. He will continue to serve as executive chairman of the remaining business companies, and chief financial officer Lori Koch will take on the role of CEO.
Breen said in a statement that the spin-off plan will give each new company greater flexibility to pursue its own focused growth strategy.
