DowDuPont adds two additional members to Corteva’s board
In a press release today, DowDuPont (DWDP) said that it had added two additional members to the future board of directors of Corteva Agriscience, which is DowDuPont’s Agricultural division. DWDP appointed Klaus Engel and Rebecca Liebert. With the addition of these two new members, Corteva’s future board now has 11 members.
DowDuPont is expected to spin off its Materials Science division (Dow) on April 1 and Corteva Agriscience (DWDP’s Agricultural division) and DuPont (DWDP’s Specialty Products division) on June 1.
About the directors
Klaus Engel brings in vast experience from the chemical industry. He was the CEO of Evonik Industries from 2009 to 2017 and the CEO of Degussa from 2006 to 2009. Prior to that, he was the CEO of Brenntag beginning in 2001.
Rebecca Liebert is senior vice president of PPG Industries (PPG). Prior to PPG, she held senior roles in Honeywell’s (HON) UOP division. She has also worked for Alcoa (AA) as president of Reynolds Food Packaging.
Jim Collins, CEO-elect of Corteva Agriscience, said, “We’re delighted Klaus Engel and Rebecca Liebert are joining the future Corteva board. Their strong backgrounds speak for themselves regarding their ability to advise management as we prepare to launch this pure-play agriculture company with its unique route to market and industry-leading new product pipeline.”
Stock up by 1.8%
DWDP was trading 1.8% up at around 2:30 PM EST. DWDP was trading at $55.69. The S&P 500 (SPY) was up by 1.3%. At the current levels, the stock price was trading above the 100-day moving average price of $55.30, indicating a trend reversal. DWDP has a 14-day relative strength index of 56, indicating that the stock is neither overbought nor oversold.