Corteva Completes Spin-Off From DowDuPont

Posted: Updated:
Corteva celebrated the spin-off with Indianapolis employees. (photo provided) Corteva celebrated the spin-off with Indianapolis employees. (photo provided)
WILMINGTON, Del. -

Delaware-based Corteva Inc. (NYSE: CTVA) is officially operating independently. The agriculture company, which has a major presence in Indianapolis, has spun off from DowDuPont and is now trading on the New York Stock Exchange. 

Corteva Agriscience celebrated the move with employees Monday. Chief Executive Officer Jim Collins said the spin-off marks the launch of a new kind of agriculture company.

"As a new, independent agriculture company, we are intently focused on disciplined investment in innovation to deliver above market organic revenue growth and improve Return On Invested Capital," said Greg Friedman, chief financial officer of Corteva Agriscience. "We are on schedule on our commitment to achieve $1.2 billion in cost synergies by 2021, and we are confident in our plan to expand margins. Equally important, we are committed to returning significant capital to stockholders through a combination of dividends and share repurchases." 

The company says it completed its distribution of Corteva common stock on Saturday, with each DowDuPont stockholder receiving one share of Corteva common stock for every three shares of DowDuPont common stock they held as of May 24.

Corteva has more than 21,000 employees worldwide with a presence in more than 140 countries and more than 150 research and development facilities. Indianapolis is home to one of two Global Business Centers for the company, with the other located in Johnston, Iowa.

In November, Corteva Executive Vice President for Business Platforms Rajan Gajaria appeared on Inside INdiana Business with Gerry Dick to talk about the company's plans for Indiana. You can watch the interview below:

  • Perspectives

    • World Refugee Day Shines Light on Untapped Pool of Talented Workers

      From Fortune 500 companies to local small businesses, a similar theme rings true. In this strong economy where unemployment is low and growth is high, companies are competing for top talent. In Indianapolis - according to the U.S. Bureau of Labor and Statistics - unemployment is just 2.8 percent, and investment and job growth are on the rise. This is great news for Indianapolis-area residents looking for work or opportunities to advance their careers, but for businesses and...
    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (file photo courtesy of Radial)

      Radial Opens Fulfillment Center in Brownsburg

      Pennsylvania-based Radial Inc. says its new fulfillment center in Brownsburg is now open. The e-commerce technology and operations company says the nearly 700,000-square-foot facility is the largest in its network and will have the capacity to house about 2,000 employees.

    • Franciscan Health Details Data Breach

      Mishawaka-based Franciscan Health is providing details of a data breach. The health system says an internal investigation found one of its employees accessed the protected health information of about 2,200 patients "without a business reason."  Franciscan says the vast majority of the affected medical records was limited to demographic information such as name, address, email address, date of birth, phone number, gender, race/ethnicity, the last four digits of...

    • Malika Butler

      IMA Promotes Butler

      The Indiana Manufacturers Association has promoted Malika Butler to assistant vice president of governmental affairs. She has served the past year as government affairs & communications specialist.
    • Lilly Exec Named BioCrossroads CEO

      After a national search, BioCrossroads has announced Patty Martin will become the life science initiative's next president and chief executive officer. Martin, who most recently served as chief operating officer for Lilly Diabetes, will begin her new role Monday. She will become just the third CEO in the organization's 17-year history, and succeeds David Johnson, who in December announced plans to step down from the role to serve as president and CEO of the...

    • (rendering courtesy of Jones Development Co.)

      New Business Park Planned for Whiteland

      Missouri-based Jones Development Co. has begun construction on a new business park in Johnson County. The 2.4 million-square-foot Whiteland Exchange will be located on 167 acres near I-65 in Whiteland.  Financial terms of the developer's investment in the project were not disclosed. The business park is slated to include modern industrial buildings for logistics, advanced manufacturing and related uses. Work is underway on the first two speculative buildings, which total nearly...