Robert King to Join as EVP,
Crop Protection Business Unit; Tim Glenn Named EVP, Seed Business
Unit
INDIANAPOLIS, March 21, 2022 /PRNewswire/ -- Corteva, Inc.
(NYSE: CTVA) today announced it will implement a global
business-unit organization model in order to support its long-term
operating performance. In connection with this move,
Robert King will join the company as
Executive Vice President, Crop Protection Business Unit, and
company veteran Tim Glenn has been
named Executive Vice President, Seed Business Unit. Under this new
structure, these leaders will be accountable for all aspects of
their respective organizations, with complete accountability for
delivering for our customers and for our financial performance. Mr.
King and Mr. Glenn will assume their new roles on April 4, 2022, and will report to Chuck Magro, Chief Executive Officer.
Mr. King, a highly experienced executive with a proven track
record for creating value across multiple industries and
geographies, joins Corteva from Nouryon, a specialty chemical
business, where he serves as Senior Vice President and Chief
Integrated Supply Chain Officer. Previously, he served as Vice
President of Global Operations for the industrial segment of PPG.
Mr. King also has notable agriculture experience, having served in
a variety of roles with Nutrien Ag Solutions.
Mr. Glenn assumes his new role after serving as the company's
Executive Vice President and Chief Commercial Officer. Mr. Glenn's
extensive experience includes leadership roles in the Seed Business
Platform, crop protection, sales, marketing, integrated operations,
and commercial effectiveness.
Mr. Magro said, "Shifting to a business-unit focused model will
facilitate increased focus, enhanced accountability and faster
speed to market, while also leveraging the considerable global
strengths of Corteva. Robert and Tim are the right leaders for
these new roles given their passion for our industry, commitment to
executional excellence and track record of delivering consistently
strong results. With their complementary skillsets, I know they
will build a strong partnership and together drive increased value
for all stakeholders."
Mr. King commented, "I'm incredibly excited to join the great
team at Corteva given the strong outlook for the ag industry and
the company's leadership position. I look forward to using my
experience in manufacturing, operations and procurement to deliver
on the growth and profitability potential of the Crop Protection
business unit."
Added Mr. Glenn, "I am very excited to lead Corteva's incredible
Seed Business during a dynamic time in our industry, and I look
forward to working with Robert to bring the very best solutions to
our customers and the broader industry, all while delivering on our
commitments."
The company will provide further details during its first
quarter earnings call in May
2022.
About Corteva
Corteva, Inc. (NYSE: CTVA) is a
publicly traded, global pure-play agriculture company that combines
industry-leading innovation, high-touch customer engagement and
operational execution to profitably deliver solutions for the
world's most pressing agriculture challenges. Corteva generates
advantaged market preference through its unique distribution
strategy, together with its balanced and globally diverse mix of
seed, crop protection, and digital products and services. With some
of the most recognized brands in agriculture and a technology
pipeline well positioned to drive growth, the company is committed
to maximizing productivity for farmers, while working with
stakeholders throughout the food system as it fulfills its promise
to enrich the lives of those who produce and those who consume,
ensuring progress for generations to come. More information can be
found at www.corteva.com.
Follow Corteva on Facebook, Instagram, LinkedIn, Twitter, and
YouTube.
™ ® Trademarks of Corteva Agriscience and its
affiliated companies.
Cautionary Statement About Forward-Looking
Statements
This communication contains forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and Section 27A of the Securities
Act of 1933, as amended, which are intended to be covered by the
safe harbor provisions for forward-looking statements contained in
the Private Securities Litigation Reform Act of 1995, and may be
identified by their use of words like "goals", "plans," "expects,"
"will," "anticipates," "believes," "intends," "target," or other
words of similar meaning. All statements that address expectations
or projections about the future, including statements about
Corteva's strategies for growth, capital allocation, and
productivity savings are forward-looking statements.
Forward-looking statements are based on certain assumptions and
expectations of future events which may not be accurate or
realized. Forward-looking statements also involve risks and
uncertainties, many of which are beyond Corteva's control. While
the list of factors presented below 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, Corteva's ability to
competitively attract, develop and retain talent; employee turnover
rates; restructurings; supplier disruptions and consolidations; and
similar risks, any of which could have a material adverse effect on
Corteva's results. Some of the important factors that could cause
Corteva's actual results to differ materially from those projected
in any such forward-looking statements include: i) failure to
obtain or maintain the necessary regulatory approvals for some
Corteva's products; (ii) failure to successfully develop and
commercialize Corteva's pipeline; (iii) effect of the degree of
public understanding and acceptance or perceived public acceptance
of Corteva's biotechnology and other agricultural products; (iv)
effect of changes in agricultural and related policies of
governments and international organizations; (v) effect of
competition and consolidation in Corteva's industry; (vi) effect of
competition from manufacturers of generic products; (vii)
costs of complying with evolving regulatory requirements and the
effect of actual or alleged violations of environmental laws or
permit requirements; (viii) effect of climate change and
unpredictable seasonal and weather factors; (ix) risks related to
oil and commodity markets; (x) competitor's establishment of an
intermediary platform for distribution of Corteva's products; (xi)
impact of Corteva's dependence on third parties with respect to
certain of its raw materials or licenses and commercialization;
(xii) effect of industrial espionage and other disruptions to
Corteva's supply chain, information technology or network systems;
(xiii) effect of volatility in Corteva's input costs; (xiv) failure
to realize the anticipated benefits of the internal reorganizations
taken by DowDuPont in connection with the spin-off of Corteva and
other cost savings initiatives; (xv) failure to raise capital
through the capital markets or short-term borrowings on terms
acceptable to Corteva; (xvi) failure of Corteva's customers to pay
their debts to Corteva, including customer financing programs;
(xvii) increases in pension and other post-employment benefit plan
funding obligations; (xviii) risks related to the indemnification
obligations of legacy EID liabilities in connection with the
separation of Corteva; (xix) effect of compliance with laws and
requirements and adverse judgments on litigation; (xx) risks
related to Corteva's global operations; (xxi) failure to
effectively manage acquisitions, divestitures, alliances and other
portfolio actions; failure to enforce; (xxii) risks related to
COVID-19; (xxiii) risks related to activist stockholders; (xxiv)
Corteva's intellectual property rights or defend against
intellectual property claims asserted by others; (xxv) effect of
counterfeit products; (xxvi) Corteva's dependence on intellectual
property cross-license agreements; and (xxvii) other risks related
to the Separation from DowDuPont. Additionally, there may be other
risks and uncertainties that Corteva is unable to currently
identify or that Corteva does not currently expect to have a
material impact on its business. Where, in any forward-looking
statement, an expectation or belief as to future results or events
is expressed, such expectation or belief is based on the current
plans and expectations of Corteva's management and expressed in
good faith and believed to have a reasonable basis, but there can
be no assurance that the expectation or belief will result or be
achieved or accomplished. Corteva disclaims and does not undertake
any obligation to update or revise any forward-looking statement,
except as required by applicable law. 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 or other estimates is included in the "Risk Factors"
section of Corteva's Annual Report on Form 10-K, as modified by
subsequent Quarterly Reports on Forms 10-Q and Current Reports on
Form 8-K.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/corteva-announces-business-unit-organization-model-to-capitalize-on-company-strengths-and-growth-potential-301506257.html
SOURCE Corteva, Inc.