WILMINGTON, Del., June 23, 2021 / PRNewswire / – Corteva, Inc. (NYSE: CTVA) today announced that James (Jim) C. Collins, Jr., Managing Director, will retire from Corteva, effective December 31, 2021, after more than 37 years with the company and its predecessor, DuPont. Mr. Collins has agreed to continue in his role as CEO while an external search for his successor is underway.
âOver the past few years Jim has guided the creation and launch of Corteva as a leading independent global agriculture company and he will leave the company on a very solid footing,â said Greg Page, Independent Chairman of Corteva. âThe Board of Directors and I are grateful for all that Jim has accomplished for our company, its employees, its customers and our shareholders. Thanks to Jim’s contributions, the company is well positioned to continue its momentum. We will immediately begin the search for Jim’s successor. and appreciates his willingness to stay put to ensure a smooth transition. “
âIt has been the privilege of a lifetime to work with such an exceptional team. We have laid the foundation for an exceptional company, built for sustainable growth as it serves its vital purpose. I am so proud of what we have accomplished together, âCollins says.
âCorteva’s successful founding work following the Dow and DuPont merger, promoting it as an independent company, and driving through some of the most volatile periods in agricultural history has was both an honor and a great responsibility. After conversations with our board of directors, we have agreed that with the company on solid foundations, now is the right time to make a change in leadership. I will continue to serve as CEO until the board identifies a successor. The organization remains focused on execution, and we are on track to meet our financial commitments for the first half of 2021 and will provide further updates on the annual outlook during the second quarter earnings call. We have created a special culture at Corteva, supported by sustainability goals to advance the resilience of agriculture, and I am confident that while we will see healthy change, our commitment to our shareholders, our customers and a planet safer and healthier will last for years to come. e. “
James C. Collins, Jr. is Managing Director of Corteva Agriscience. Collins was previously COO of the agricultural division of DowDuPont. Prior to the DowDuPont merger, he was Executive Vice President of DuPont, responsible for the Agriculture segments, which included DuPont Crop Protection and Pioneer.
Beginning with the announcement of the DowDuPont merger, Collins led the integration of the former farming businesses of DuPont and Dow to prepare for the ultimate rotation of Corteva – a leading new pure-play farming business – which s ‘is successfully separated from DowDuPont on June 1, 2019. During this period, strategic initiatives included the launch of 14 new products from the innovation pipeline, the implementation of a multi-channel and multi-brand growth strategy and significant progress towards a world-class cost structure.
Collins joined DuPont in 1984 and has since held key management positions in several DuPont companies. His work in the agricultural sector began over 35 years ago. Prior to leading the Agriculture segment, he led two other major business segments of DuPont, Performance Materials and Electronics & Communications.
Collins currently serves on the board of directors of CropLife International and Longwood Gardens, and is a champion of the Crop Trust’s Food Forever initiative. An advocate of youth education and leadership development, Collins also sits on the board of directors of the National 4-H Council and University of Tennessee Lone Oaks Farm Advisory Board. He also received an honorary American FFA degree for his efforts to promote agricultural education to youth in United States.
Collins is also a member of the Business Round Table, serving on the Special Committee on Racial Equity and Justice, Climate Policy and Trade Committees.
Corteva, Inc. is a publicly traded global agriculture company that provides farmers around the world with the most comprehensive portfolio in the industry, including a balanced and diverse mix of seed, crop protection, and digital solutions focused on maximizing productivity to improve performance and profitability. With some of the most recognized brands in agriculture and a pipeline of cutting-edge products and technologies well positioned to drive growth, the company is committed to working with stakeholders across the food system as it keeps its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva became an independent public company on June 1, 2019 and was previously the agricultural division of DowDuPont. More information can be found at www.corteva.com.
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Gregg M. Schmidt
Caution Regarding 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 provisions safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and can be identified by the use of words such as “guidance”, “plans”, “expects”, “will”, “Anticipates”, “believes”, “,” projects “,” estimates “,” prospects “or other words with similar meanings. All statements that deal with expectations or projections for the future, including statements about Corteva’s growth strategy and financial results, 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. Although the list of factors presented below is considered representative, none of these lists should be taken as a complete statement of all potential risks and uncertainties. Factors not listed may present additional material barriers to making forward-looking statements. The consequences of material differences in results from those anticipated in forward-looking statements could include, among others, business interruption, operational problems, financial losses, legal liability to third parties and similar risks, all of which could. have a material adverse effect on Corteva’s business, results of operations and financial condition. Some of the significant factors that could cause Corteva’s actual results to differ materially from those projected in such forward-looking statements include: (i) failure to obtain or maintain the necessary regulatory approvals for certain of Corteva’s products; (ii) failure to successfully develop and market Corteva’s pipeline; (iii) the effect of the degree of public understanding and acceptance or perceived public acceptance of Corteva’s biotechnology and other agricultural products; (iv) the effect of changes in agricultural and related policies of governments and international organizations; (v) the effect of competition and consolidation in the Corteva industry; (vi) effect of competition from generic manufacturers; (vii) the costs of complying with evolving regulatory requirements and the effect of actual or suspected violations of environmental laws or permit requirements; (viii) the effect of climate change and unforeseeable seasonal and meteorological factors; (ix) risks associated with the oil and commodity markets; (x) the establishment by a competitor of an intermediary platform for the distribution of Corteva’s products; (xi) the impact of Corteva’s dependence on third parties with respect to some of its raw materials or licenses and its marketing; (xii) the effect of industrial espionage and other disruptions to Corteva’s supply chain, information technology or network systems; (xiii) the effect of the volatility of Corteva’s input costs; (xiv) failure to realize the expected benefits of internal reorganizations undertaken by DowDuPont as part of the Corteva spin-off and other cost reduction initiatives; (xv) failure to raise capital in the capital markets or short-term debt on terms acceptable to Corteva; (xvi) the failure of Corteva’s customers to pay their debts to Corteva, including customer financing programs; (xvii) increased funding obligations for pension plans and other post-employment benefits; (xviii) risks related to obligations to indemnify the historical liabilities of EI du Pont de Nemours and the Company in connection with the separation of Corteva; (xix) the effect of compliance with laws and adverse requirements and judgments on litigation; (xx) risks relating to Corteva’s global operations; (xxi) failure to effectively manage acquisitions, divestitures, alliances and other portfolio actions; (xxii) the risks associated with COVID-19; (xxiii) risks associated with activist shareholders; (xxiv) failure to enforce Corteva’s intellectual property rights or defend against intellectual property claims asserted by third parties; (xxv) effect of counterfeit products; (xxvi) Corteva’s reliance on intellectual property cross-licensing agreements; (xxvii) other risks associated with the separation from DowDuPont; and (xxviii) the risks of failure associated with the transition of our CEO, including the inability to timely identify a new CEO and the impact on hiring and retention of employees. In addition, there may be other risks and uncertainties that Corteva is currently unable to identify or that Corteva does not currently expect to have a material impact on its business. Where in a forward-looking statement an expectation or belief as to future results or events is expressed, that 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 realized or fulfilled. Corteva disclaims and assumes no obligation to update or revise any forward-looking statement, except as required by applicable law. A detailed discussion of some of the material risks and uncertainties that may cause results and events to differ materially from these forward-looking statements or other estimates is included in the âRisk Factorsâ section of Corteva’s annual report on Form 10-K , as amended by subsequent quarterly reports on Form 10-Q and current reports on Form 8-K.
SOURCE Corteva, Inc.