Edward Breen is shedding the ‘interim’ part of his title, becoming DuPont’s new CEO and company chair.
DuPont’s board of directors announced the move early Monday morning. It came less than a month after he assumed the interim position when former CEO and board chair Ellen Kullman announced she would retire Oct. 16.
“Since joining the board and certainly over the last month while serving as interim chair and CEO, I have developed a deep appreciation of DuPont’s fundamental strengths, significant advantages and future potential,” said Breen in a statement. “I look forward to continuing to work closely with the team at DuPont and with the board of directors to deliver fully on that potential for our customers and our shareholders."
Breen joined the DuPont last February. Before that, he worked as CEO of security product manufacturing company Tyco International from 2002-2012.
He has also held executive positions at Motorola and General Instruments.
"As a DuPont board member and interim chair and CEO, Ed has rapidly and actively engaged in advancing the transformation of DuPont,” said Alexander Cutler, DuPont’s lead independent director, in a statement. “The board has concluded he is the right leader for the company. We could not be more pleased to appoint an executive of his experience and caliber to lead DuPont through its next stage of growth and achievement.”
Kullman’s departure as CEO came suddenly after overseeing DuPont through an attempted board takeover by activist investor Nelson Peltz and his Trian Fund Management group.
She also spun off the company’s performance chemical division, creating Chemours in July.
Breen’s promotion is effective immediately.
