DowDuPont Announces Updates to Its Materials Science Division and Specialty Products Division Advisory Committees

Monday, July 23, 2018 8:00 am EDT

Dateline:

MIDLAND, Mich. & WILMINGTON, Del.

Public Company Information:

NYSE:
DWDP

MIDLAND, Mich. & WILMINGTON, Del.--(BUSINESS WIRE)--DowDuPont (NYSE: DWDP) today announced that Wesley G. Bush, Chairman and CEO of Northrop Grumman, will join the Advisory Committee of its Materials Science Division; and Rajiv L. Gupta, Former Chairman and CEO of Rohm & Haas Company, will join the Advisory Committee of its Specialty Products Division.

Jeff Fettig, executive chairman of DowDuPont, said, “The addition of Wes Bush to the Materials Science Advisory Committee is a well-suited addition for the division’s disciplined, focused and market-oriented approach. The new Dow’s management team will benefit from his experience driving an industry-leading growth company focused on innovative strategies centered on customer needs. Wes joins a highly experienced and well-rounded Advisory Committee focused on delivering near-term value and long-term growth for our customers and shareholders.”

Ed Breen, chief executive officer of DowDuPont, said, “The addition of Rajiv Gupta to the Specialty Products Advisory Committee further underscores the great potential of this business and our focus on optimizing its value. We look forward to benefitting from Raj’s significant operating and governance experience, depth of understanding of our portfolio and end markets, and track record in value creation. He joins other recently appointed, highly experienced individuals who are now part of our Advisory Committees, helping to ensure that each of our divisions is best positioned to be an industry-leading growth company.”

As previously announced, the Materials Science Division (Dow) is anticipated to separate by the end of the first quarter of 2019, and Agriculture (Corteva Agriscience) and Specialty Products (DuPont) Divisions are expected to separate by June 1, 2019.

Biographies of New Members

About Wesley G. Bush

Mr. Bush is Chairman and CEO of Northrop Grumman Corporation, a leader in global security. He was elected to the company’s Board of Directors in 2009; named CEO and president in January 2010; and assumed the role of chairman in July 2011. Prior to the acquisition of TRW by Northrop Grumman, Bush had served since 2001 as president and chief executive officer for TRW’s UK-based global Aeronautical Systems. He joined TRW in 1987 and prior to joining TRW, he held engineering positions with both the Aerospace Corporation and Comsat Labs. Mr. Bush serves as a director of Northrop Grumman and Norfolk Southern, and on the boards of several non-profit organizations including the Inova Health System, Conservation International, the Business Roundtable, and the USO.

About Rajiv L. Gupta

Mr. Gupta was the Chairman and CEO of Rohm & Haas Company from 1999 until 2009, when it was acquired by Dow Chemical. Prior to that, he held various other positions at Rohm & Haas, which he joined in 1971. He currently serves as a director of two publicly traded companies, Arconic, Inc and Aptiv, PLC, where he is Chairman. He has been a Senior Advisor to New Mountain Capital, LLC since 2009. He previously served as Chairman of Delphi Automotive PLC, and as a director of HP Inc., The Vanguard Group, Inc., and Tyco International plc.

About DowDuPont™

DowDuPont (NYSE: DWDP) is a holding company comprised of The Dow Chemical Company and DuPont with the intent to form strong, independent, publicly traded companies in agriculture, materials science and specialty products sectors that will lead their respective industries through productive, science-based innovation to meet the needs of customers and help solve global challenges. For more information, please visit us at www.dow-dupont.com.

Cautionary Statement About Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “target,” similar expressions, and variations or negatives of these words.

On December 11, 2015, The Dow Chemical Company (“Dow”) and E. I. du Pont de Nemours and Company (“DuPont”) announced entry into an Agreement and Plan of Merger, as amended on March 31, 2017, (the “Merger Agreement”) under which the companies would combine in an all-stock merger of equals transaction (the “Merger Transaction”). Effective August 31, 2017, the Merger Transaction was completed and each of Dow and DuPont became subsidiaries of DowDuPont Inc. (“DowDuPont”). For more information, please see each of DowDuPont’s, Dow’s and DuPont’s latest annual, quarterly and current reports on Forms 10-K, 10-Q and 8-K, as the case may be, and the joint proxy statement/prospectus included in the registration statement on Form S-4 filed by DowDuPont with the SEC on March 1, 2016 (File No. 333-209869), as last amended on June 7, 2016, and declared effective by the SEC on June 9, 2016 (the “Registration Statement”) in connection with the Merger Transaction.

Forward-looking statements by their nature address matters that are, to different degrees, uncertain, including the intended separation of DowDuPont’s agriculture, materials science and specialty products businesses in one or more tax efficient transactions on anticipated terms (the “Intended Business Separations”). Forward-looking statements are not guarantees of future performance and are based on certain assumptions and expectations of future events which may not be realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond the company’s control. Some of the important factors that could cause DowDuPont’s, Dow’s or DuPont’s actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: (i) successful integration of the respective agriculture, materials science and specialty products businesses of Dow and DuPont, including anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, productivity actions, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies for the management, expansion and growth of the combined operations; (ii) impact of the divestitures required as a condition to consummation of the Merger Transaction as well as other conditional commitments; (iii) achievement of the anticipated synergies by DowDuPont’s agriculture, materials science and specialty products businesses; (iv) risks associated with the Intended Business Separations, including those that may result from the comprehensive portfolio review undertaken by the DowDuPont board, changes and timing, including a number of conditions which could delay, prevent or otherwise adversely affect the proposed transactions, including possible issues or delays in obtaining required regulatory approvals or clearances related to the Intended Business Separations, disruptions in the financial markets or other potential barriers; (v) the risk that disruptions from the Intended Business Separations will harm DowDuPont’s business (either directly or as conducted by and through Dow or DuPont), including current plans and operations; (vi) the ability to retain and hire key personnel; (vii) potential adverse reactions or changes to business relationships resulting from the completion of the merger or the Intended Business Separations; (viii) uncertainty as to the long-term value of DowDuPont common stock; (ix) continued availability of capital and financing and rating agency actions; (x) legislative, regulatory and economic developments; (xi) potential business uncertainty, including changes to existing business relationships, during the pendency of the Intended Business Separations that could affect the company’s financial performance and (xii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as management’s response to any of the aforementioned factors. These risks, as well as other risks associated with the merger and the Intended Business Separations, are more fully discussed in (1) the Registration Statement and (2) the current, quarterly and annual reports filed with the SEC by DowDuPont and to the extent incorporated by reference into the Registration Statement, by Dow and DuPont. While the list of factors presented here is, and the list of factors presented in the Registration Statement are, 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, Dow’s or DuPont’s consolidated financial condition, results of operations, credit rating or liquidity. None of DowDuPont, Dow or DuPont assumes any 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.

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Contact:

for DowDuPont
Investors:
Greg Friedman, (302) 999-5504
greg.friedman@dupont.com
or
Neal Sheorey, 1 989-636-6347
nrsheorey@dow.com
or
Media:
Rachelle Schikorra, 1 989-638-4090
ryschikorra@dow.com
or
Dan Turner, 1 302-996-8372
daniel.a.turner@dupont.com