DuPont Taps Vergnano to Head Spin-off

DuPont has named Mark Vergnano, head of the Performance chemicals division since 2008, as CEO of the independent company it is creating through the carve-out of the division. The $7 billion division, including the titanium dioxide and the chemicals and fluoroproducts businesses is being spun off to shareholders by the second quarter of 2015.

In announcing the move in October 2013, DuPont CEO Ellen Kullman said that after the carve-out DuPont will have the optimum portfolio, will benefit from more consistent earnings growth and lower volatility and will have world-leading businesses, solid fundamentals and well established positions in attractive markets.

The fluoroproducts business is one of the traditional pillars of DuPont's portfolio.