WILMINGTON — DuPont has announced two top executives for its spin-off electronics and industrial company as plans continue to solidify for the future independent company.
Jon Kemp, the president of the electronics & industrial division, will be the CEO of the future independent electronics company which is set to launch on Nov. 1. DuPont has also named Michael Stubblefield, the president and CEO of Avantor, as the chairman of the board of directors for the same company.
“Jon is a great choice for the CEO of the future Electronics company,” DuPont Chairman Ed Breen said in a prepared statement earlier this week. “With his proven leadership and extensive experience in the electronics sector, Jon is uniquely positioned for the role. I believe his ability to drive growth and generate returns will ensure that as a pure-play, public company, Electronics will continue to create shareholder value.”
Kemp has been a key figure in DuPont’s history, as he worked for the multinational company for at least 20 years. He was the head of strategy during the DowDuPont merger, as well as merger and acquisitions and procurement for the specialty products division.
In the past six years, he led the $6 billion electronics and industrial segment of Delaware’s legacy company. That division includes its electronic materials and budding semiconductor chip business. DuPont’s key end markets for electronics also included components that allowed devices to connect to Wi-Fi or Bluetooth.
“For decades, our team has focused on driving innovations that advance the electronics industry,” Kemp said in a press statement. “We are entering a pivotal time where advanced computing and connectivity will require new technologies and integrated solutions.”
“As a leader in materials science and engineering, the future electronics company will be a vital partner in advancing our customers’ growth strategies,” Kemp added. “I am proud to be part of this journey and lead the team as we take this next leap forward.”
The future independent electronics company also plans to benefit from the guidance of
Stubblefield who has a storied career in life science and tech companies. As president and CEO of Avantor for 11 years, he has shaped the global company that works in biotech, chemicals and pharmaceuticals.
DuPont representatives announced plans to hire externally for a chief financial officer.
While DuPont forges on with the separation, DuPont CEO Lori Koch told investors in February that the company’s sales increased 7% for 2024, likely due to the strong organic growth in the electronics segment.
Semiconductor demand continues to be strong in China, with year-over-year growth of 40%- but the company expects flat sales for 2025, as DuPont executives said during the earnings call. Koch also said that artificial-intelligence sales were now at $300 million and would be expected to be a key piece for the electronics division.
Koch told investors during the fourth quarter earnings call that DuPont had locked in its timeline for the spin-off.
“We remain excited about the sizable shareholder value creation opportunity from creating a leading pure-play electronics company,” she said. “We continue to see the excitement building internally and externally, and I look forward to updating you in the coming months.”
