Pre-merger, DowDuPont Executive Chairman Andrew Liveris (pictured left) was the Dow Chemical Co. CEO. DowDuPont CEO Edward Breen was CEO of DuPont before what the companies tabbed a merger of equals.
MIDLAND, Michigan and WILMINGTON, Delaware -
The newly-merged DowDuPont (NYSE: DWDP) has detailed several changes to two of the three planned spin-out companies that will emerge from the $130 billion combination. The agriculture-focused spin-out, which will be headquartered in Delaware and have a global business center at the current Dow AgroSciences LLC HQ in Indianapolis, is not expected to be affected by what the company calls "targeted adjustments."
DowDuPont says board-approved changes to the Materials Science and Specialty Products divisions will "better equip each to compete successfully as industry leaders." The company says the decision was formed through a review led by top independent directors, McKinsey & Co. recommendations, input from stakeholders and knowledge gathered over 20 months of pre-merger activity. It expects the merger and resulting independent companies to lead to some $3 billion in cost synergies and approximately $1 billion in growth synergies.
You can connect to details about the merger and adjustments by clicking here.
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