Edward D. Breen named DuPont CEO
Edward D. Breen, DuPont’s interim chair since former CEO Ellen J. Kullman’s October resignation, has been named CEO.
Breen, a former Tyco CEO, joined the company’s board in February 2015. At Tyco, he oversaw a restructuring that included two break-ups of the company resulting in spinoffs.
“Ed Breen brings to DuPont an exceptional track record of business leadership and value creation. As a chief executive, he has consistently delivered superior returns through robust growth and portfolio strategies, across a range of industries. As a DuPont board member and interim chair and CEO, Ed has rapidly and actively engaged in advancing the transformation of DuPont,” said Alexander M. Cutler, DuPont’s lead independent director. “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.”
“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. “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. In the near-term, we are staying very close to our customers to deliver the value enhancing solutions they expect from DuPont innovation – even as we work with urgency to improve shareholder returns.”
Prior to joining Tyco, Breen held senior management positions at Motorola and at General Instrument Corporation. He still serves as chairman of Tyco and a director of Comcast Corporation.