DuPont CEO Discusses Competitive Imperative of A Total Innovation System at the Council on Foreign Relations
Kullman Highlights DuPont Tiers of Innovation and Local Application of Global Capabilities
NEW YORK, Dec. 18, 2014 – DuPont Chair and Chief Executive Officer Ellen Kullman participated today in a discussion at the Council on Foreign Relations’ CEO Speaker Series, providing insights into the role of innovation in competitiveness and the innovation model at DuPont.
Alan Murray, editor, Fortune magazine, presided over the event, which followed a question and answer format. The discussion focused on the central role of large, global companies in scientific innovation and the importance of delivering short-term value while also investing in longer-term, transformative technologies.
Given the pace of change in the global marketplace, to stay ahead of the competition and to deliver sustainable value, DuPont focuses on three dimensions of innovation:
- Constantly renewing its portfolio and enhancing existing products for new markets and applications;
- Developing breakthrough products that enable step-change solutions and growth; and,
- Pursuing the next wave of transformational innovation, creating new categories and markets, such as the company’s investment in cellulosic ethanol.
Kullman said that while entrepreneurialism plays a critical role in U.S. innovation, bringing products to global markets requires a total innovation system. “Science itself is interesting, but it’s only relevant if you can take it to a scale and cost where your customers can benefit from it,” she said.
“We’ve found that leveraging the science, adding biology, engineering, materials science and chemistry together, and using our global reach and value-chain knowledge creates opportunities for our company differential to our competition in the areas of agriculture and nutrition, advanced materials and industrial biosciences,” Kullman added.
DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com.
# # #