No Joke: DowDuPont Officially Breaks Into Three Companies
April 1, 2019
On April 1 DowDuPont made good on its 2015 plan to separate into three companies.
On April 1 DowDuPont made good on its 2015 plan to separate into three companies (see: Dow, DuPont Announce Mega Merger). The materials science division becomes the new Dow and will remain headquartered in Midland. In June, DowDuPont will spin off its agriculture division, already known as Corteva. The remaining company will be known as DuPont. These name changes were outlined in 2018 (see: DowDuPont Announces Brand Names For Divisions Turned Companies).
“Today marks the beginning of a new and exciting chapter for Dow,” said Jim Fitterling, chief executive officer, in a press release. “The changes we have made to Dow’s portfolio, cost structure and mindset are significant. The new Dow is a more focused and streamlined company with a clear playbook to deliver long-term earnings growth and value creation for all stakeholders. Team Dow is well positioned to achieve our ambition of becoming the most innovative, customer-centric, inclusive and sustainable materials science company. We have all the tools in place to innovate more quickly, to operate more productively, and to invest more prudently to deliver value creating growth, higher returns and enhanced shareholder value.”
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