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Executive Chairman Andrew Liveris said the Board is "confident" the adjustments "are the right actions to take."
September 12, 2017
By: Anthony Locicero
Copy Editor, New York Post
DowDuPont on Tuesday said that it will alter its original plan to break into three independent companies. The company said that its Board of Directors and management, with the assistance of independent advisors, completed a comprehensive review of the portfolio composition of the intended companies: Agriculture, Materials Science and Specialty Products. The board concluded “that, in light of knowledge gained since the announcement of the transaction, certain targeted adjustments will be made between the Materials Science and Specialty Products divisions, which will enhance the competitive advantages of the intended resulting companies,”the company said in a press release. “The changes better align these businesses with the end-markets they serve, ensuring clear focus, market visibility, targeted innovation and stronger growth profiles, and better equip each to compete successfully as industry leaders.” Per the press release, the Board of Directors approved the changes based on “a thorough review led by lead independent directors, which included recommendations provided by McKinsey & Company; a comprehensive business and operational analysis leveraging knowledge gained over the past 20 months of pre-merger planning; and input from a wide range of stakeholders, including both investors and financial advisors.” As a result, DowDuPont said it will realign the following businesses to the Specialty Products Division from the Materials Science Division:
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