Executive Chairman and Chief Executive Officer
The events of the past two years have underscored both the resilience and fragility of our global economic, environmental, and social systems. We’ve faced a worldwide pandemic, supply chain dislocations, natural disasters and more. The need for industrial transformation and collaboration has never been more urgent. Embracing change is not sufficient; we need bold actions if we are to live and work sustainability. While there is no silver bullet, responsible technology can help solve and accelerate the changes that are required. We’re seeing that across sectors: advances in connectivity have improved healthcare access with telemedicine and enabled hybrid and remote working; new water solutions are helping cities and municipalities implement reuse strategies to address water scarcity; and progress in battery technologies are paving the way for the adoption of electric vehicles today and in the years to come.
At DuPont, we are navigating through our own transformation, reshaping, sharpening and strengthening our business portfolio and focusing our innovation in areas where our technologies and capabilities can make a difference, such as clean water and personal protective garments. In 2021, we completed the divestiture of the Nutrition & Biosciences business with IFF. We acquired Laird Performance Materials on July 1, 2021 and on November 2, 2021 announced a definitive agreement to acquire Rogers Corporation1 . Together with DuPont’s Electronics & Industrial business, these portfolio actions will position us to better serve our customers and drive sustainable solutions for electric vehicles, advanced driver assist systems, 5G telecommunications, and clean energy. These acquisitions, along with the pending divestiture of a majority of our Mobility & Materials segment, firmly establishes us as a multi-industrial company with a focus on electronics, water, protection, industrial technologies, and next generation automotive.
“We believe the biggest impact we can make is by working with our customers to develop sustainable innovations that address the worlds’ challenges and by taking a broader view of our industry value chains.”
Our transformation journey is interconnected with our sustainability journey. We believe the biggest impact we can make is by working with our customers to develop sustainable innovations that address the worlds’ challenges, and equally important is taking a broader view of industry value chains. That includes making changes to our own operations, like investing in and transitioning to lower greenhouse gas formulations for our building insulation solutions. We also recognize the opportunity to transform our supplier networks to create more robust delivery systems for our customers and more sustainable sourcing for our operations. Renewable energy is one part of our integrated climate and energy approach, and in 2021 we signed a virtual power purchase agreement for the equivalent of 135 megawatts of new wind energy.
Our company and our people remain committed to our Core Values. As we embrace the transformation to hybrid working, we’re also grateful for our essential workers who are on site at our manufacturing and research facilities each day keeping our plants running and our innovation flowing. The safety, health and well-being of all our teams has and always will be our first priority. Each one of our colleagues is taking steps, both big and small, to deliver on our purpose—to empower the world with the essential innovations to thrive—and transform the way we deliver results for our customers, communities, and shareholders. Their actions are further encouraged through our employee incentive compensation program that includes an ESG modifier aligned to progress toward DuPont’s Sustainability Goals.
I’m encouraged by the collaboration and commitments of companies across industries. CEO-led coalitions are one of the ways the private sector can drive progress for all stakeholders. DuPont has been a long-standing member of the United Nations Global Compact and this past year, I was proud to sign its CEO Water Mandate; and as a founding member of the Council for Inclusive Capitalism, I’m committed to fostering a global economy that works for everyone. Through industry alliances like these, coupled with meaningful actions and supported by oversight from our Board of Directors, we’re ensuring sustainability remains at the top of our agenda.
I invite you to read on to learn more about our work, our people, and how our results connect to our stakeholders and to the change the world needs from all of us.
1 On November 2, 2021, DuPont announced it has entered into a definitive agreement to acquire Rogers Corporation for cash, (the “Intended Rogers Acquisition”). The transaction is subject to approval by Rogers’ shareholders, which was received on January 25, 2022, regulatory approvals and customary closing conditions.