WILMINGTON (dpa-AFX) - DuPont (DD) announced Tuesday that its Board of Directors has appointed current Executive Chairman Edward Breen to the additional role of Chief Executive Officer. Lori Koch, Vice President of Investor Relations and Corporate Financial Planning and Analysis, is named Chief Financial Officer. Both appointments are effective immediately.
As a result, Marc Doyle and Jeanmarie Desmond, who have served as CEO and CFO respectively, will depart the company.
The company said it will continue to advance the initiatives to assure that its organizational and cost structures are right sized to reflect the ongoing portfolio changes.
To ensure this initiative maintains the right level of rigor, Nick Fanandakis, former DuPont CFO, will serve as Senior Advisor to the CEO with a focus on driving the restructuring effort.
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