Dupont Names New President and CEO

DuPont announced that its board of directors has elected Ellen J Kullman, 52, President and a director of the company effective Oct 1 and Chief Executive Officer effective Jan 1, 2009. Charles O Holliday Jr, 60, Chairman and CEO, will serve as Chairman of DuPont and as a member of the board until Kullman’s expected succession as Chairman.

“During the past 10 years, I have had the unique privilege of leading DuPont’s transformation to a market-driven science company that leads the way in solving some of the most difficult and pressing human needs in a resource-constrained world,” Holliday said. “Having transformed the company, increased our profitability and returns, and developed a talented and strong next generation of leaders, now is the right time to make a seamless transition to new leadership.

“Ellen is ready to lead DuPont’s market-driven strategy for faster growth,” Holliday added. “By appointing Ellen now as president, she will define DuPont’s detailed 2009 execution plans that will make a solid advance toward achieving our 2010 accelerated growth goals.”

Kullman is the 19th executive to lead the company in DuPont’s 206-year history. Since June 2006, she has served as an Executive Vice President and a member of the company’s office of the chief executive, with responsibility for four of DuPont’s five business segments and its Marketing & Sales and Environmental Sustainability functions. From February 2002 to June 2006 as Group Vice President of the then-newly formed DuPont Safety & Protection segment, Kullman led revenue growth from $3.5 billion to $5.5 billion. She joined the company in 1988 from General Electric.

"Ellen’s strong track record, market focus and leadership skills were the basis for the board’s decision that she is the right person to lead our exceptionally talented management team and 60,000-strong global work force into DuPont’s bright future,” Holliday said.

“Ellen built what has become our highest earning business segment, Safety & Protection, by assuring that we harnessed the power of our science to meet customer needs. She has thrived in DuPont’s transformation to a market-driven science company, she has been an important force in linking our science to our customers’ needs, and she has been instrumental to our strong emerging markets expansion.

“I am excited to partner with Ellen as Chairman through what I expect will be a very smooth and relatively brief transition,” Holliday added. “I look forward to watching in the years ahead as DuPont prospers while addressing critical world needs such as improving agriculture productivity, providing alternative energy sources, and protecting people and structures.”

Holliday, a 38 year DuPont veteran, has led the company as CEO since February 1998.

www.dupont.com