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Delaware Power Moves: DuPont to split into 3 separate companies

Plus, WSFS taps former Citigroup exec as CFO and a Bison Venture Partners cofounder releases his first book.

DuPont leadership, L to R: Antonella Franzen is the new CFO, Ed Breen transitions to executive chair and Lori Koch is the new CEO. (Courtesy DuPont)
Power Moves is a column where we chart the comings and goings of talent across the region. Got a new hire, gig or promotion? Email us at pittsburgh@technical.ly.

We can’t talk about power moves this month without talking about DuPont.

The science and technology conglomerate announced last week that it is breaking up into three separate, more focused companies.

This month’s edition of Power Moves also includes developments in publishing, startup accelerators, a pitch competition, and a few executive appointments.

DuPont announces a three-way split, executive shuffling

Within the next two years, DuPont will transition into New Dupont, with two spinoffs comprising the company’s water and electricity businesses. All three will be publicly traded companies. This move follows a trend of major conglomerates breaking up into smaller, more focused companies.

Over the last decade, DuPont has gone through some big changes. That includes the Dow/DuPont merger in 2015 that lasted for just a couple of years, but heavily impacted Delaware as the company sold off its Wilmington office buildings, the Hotel du Pont and DuPont Country Club, most to the Wilmington-based Buccini Pollin Group.

In 2019, DowDuPont finalized its own three-way split, resulting in a “new” Dow, a “new” Dupont, and Corteva, a DuPont agricultural spinoff. DuPont chemical spinoff Chemours built its STAR Campus research and development site the same year, informally dubbed DuPont’s “rebirth.”

Even before the changes take effect, The latest DuPont breakup rearranged the company’s top leadership.

Former CEO Ed Breen shifted to chairman of the board. Former DuPont Chief Financial Officer (CFO) Lori Koch named new CEO and former CFO of the Water & Protection segment Antonella Franzen named as the new company CFO. This executive team is expected to lead New DuPont after the breakup.

Executives for the water and electricity spinoffs will be named as the breakup nears its finalization.

More power moves:

Companies: Diamond Technologies / WSFS / Delaware Prosperity Partnership / DuPont / University of Delaware
Series: Power Moves

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