DuPont announced some leadership changes Tuesday.
The company's Board of Directors is bringing back a former CEO.
The Board’s current Executive Chairman Edward Breen returns to that role effective immediately. Breen led the company into its merger with Dow back in 2015.
He replaces Marc Doyle, who is leaving after about 25 years with DuPont in various roles.
DuPont’s CFO Jeanmarie Desmond is also departing. The company’s website describes her as a “key architect” in its recent split into three separate companies – a move that came just a few years after its merger with Dow chemical.
The Board tapped Vice President of Investor Relations and Corporate Financial Planning and Analysis Lori Koch to serve as CFO. She’s been with the company more than 17 years.
The Board offered little in its reasoning for the move, except to say it is meant to “accelerate operational performance improvement and to more directly tap Ed Breen’s significant management experience.”
In a statement Tuesday, Breen said DuPont's performance had not met the company’s own expectations, adding DuPont needs to “move aggressively to secure our foundation for growth.”