Raj Ratnakar Named Chief Strategy Officer for Specialty Products (DuPont) Division of DowDuPont
WILMINGTON, Del., May 2, 2019 – DuPont today announced that Raj Ratnakar has been named Chief Strategy Officer for the Specialty Products Division of DowDuPont, which is expected to become an independent company (the new DuPont) on June 1, 2019. Ratnakar’s appointment is effective May 1. He will report to Marc Doyle, chief executive officer-elect for DuPont and chief operating officer, DowDuPont Specialty Products Division.
Ratnakar joins DuPont from Fortive, a $7 billion in annual revenue, publicly traded spin-off of Danaher, where he played a key role in designing and executing the separation. In this role, he also oversaw corporatewide strategic planning and led efforts to significantly transform the company’s portfolio to build and shape Fortive into a high-performing, multi-industrial company. Ratnakar’s previous experience includes senior strategy roles at both Danaher and TE Connectivity, as well as experience advising large corporate and private equity clients at McKinsey & Company.
“Active portfolio management and a disciplined approach to capital allocation are key drivers of DuPont’s value creation strategy,” said Doyle. “Raj’s experience in leading efforts to create long-term portfolio strength, implementing global growth and profitability strategies and building organizational capabilities for continuous improvement and business transformation make him ideally suited to step into the corporate strategy role at DuPont. I look forward to working with him and the rest of the leadership team as we move rapidly toward becoming an independent company.”
Ratnakar holds a master’s degree in Mechanical Engineering from the University of Maryland, and an MBA with a major in Finance from The Wharton School at the University of Pennsylvania.
About DowDuPont Specialty Products Division
DowDuPont Specialty Products, a division of DowDuPont (NYSE: DWDP), is a global innovation leader with technology-based materials, ingredients and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, building and construction, health and wellness, food and worker safety. DowDuPont intends to separate the Specialty Products Division, which will be called DuPont, into an independent, publicly traded company. More information can be found at www.dow-dupont.com.
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Forward-looking statements by their nature address matters that are, to varying degrees, uncertain, including statements about the Corteva Distribution. Forward-looking statements, including those related to DowDuPont’s ability to complete, or to make any filing or take any other action required to be taken to complete, the Corteva Distribution, are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Forward-looking statements also involve risks and uncertainties, many of which that are beyond DowDuPont’s control. 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These risks are and will be more fully discussed in DowDuPont’s current, quarterly and annual reports and other filings made with the U.S. Securities and Exchange Commission, in each case, as may be amended from time to time in future filings with the SEC. While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on DowDuPont’s or Corteva, Inc.’s consolidated financial condition, results of operations, credit rating or liquidity. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. DowDuPont assumes no obligation to publicly provide revisions or updates to any forward-looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements is included in the section titled “Risk Factors” (Part I, Item 1A) of DowDuPont’s 2018 Annual Report on Form 10-K.
Discussion of segment revenue and operating EBITDA on a divisional basis for Agriculture is based on the results of the Agriculture segment; for Materials Science is based on the combined results of the Performance Materials & Coatings, Industrial & Infrastructure, and Packaging & Specialty Plastics segments; and for Specialty Products is based on the combined results of the Electronics & Imaging, Nutrition & Biosciences, Transportation & Advanced Polymers, and Safety & Construction segments. The segment disclosures have been presented in this manner for informational purposes only and should not be viewed as an indication of the materials science division’s current or future operating results on a standalone basis after the Dow Distribution or for agriculture and specialty products on a standalone basis assuming completion of the intended Corteva Distribution.
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