Robert King join as Executive Vice President, Crop Protection Business Unit; Tim Glenn Named Senior Vice President of Seed Business Unit
INDIANAPOLIS, March 21, 2022 /PRNewswire/ — Corteva, Inc. (NYSE: CTVA) today announced that it will implement a global business unit organization model to support long-term operational performance. As part of this move, Robert King will join the company as Executive Vice President, Crop Protection Business Unit, and Company Veteran Tim Glen was appointed Executive Vice President, Seed Business Unit. Under this new structure, these leaders will be responsible for all aspects of their respective organizations, with full responsibility for delivery to our customers and our financial performance. Mr. King and Mr. Glenn will assume their new roles on April 4, 2022and report to chuck magroChief Executive Officer.
Mr. King, a highly experienced executive with a proven track record of delivering value across multiple industries and geographies, joins Corteva from Nouryon, a specialty chemicals business, where he serves as Senior Vice President and Managing Director of the integrated supply chain. Previously, he served as vice president of global operations for PPG’s industrial segment. Mr. King also has notable experience in agriculture, having held various positions 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 business efficiency.
Mr. Magro said, “Moving to a business unit-driven model will facilitate increased focus, increased accountability and faster time to market, while leveraging Corteva’s considerable global strengths. Robert and Tim are the right leaders for these new roles given their passion for our industry, commitment to excellence in execution and a track record of strong and consistent results. Thanks to their complementary skills, I know that they will be able to build a solid partnership and, together, generate increased value for all stakeholders.
Mr. King commented, “I am extremely excited to join the great team at Corteva given the strong outlook in the agriculture industry and the company’s leadership position. I look forward to using my experience in manufacturing, operations and supply to drive growth. and the profitability potential of the Crop Protection business unit.”
Mr. Glenn added, “I am very pleased 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 best solutions to our customers and the industry. entire industry, while delivering on our commitments.”
The company will provide further details in its first quarter earnings call. May 2022.
Corteva, Inc. (NYSE: CTVA) is a publicly traded global agriculture company that combines industry-leading innovation, world-class customer engagement and operational execution to cost-effectively deliver solutions to the world’s most pressing agricultural challenges. Corteva generates preferred market preference through its unique distribution strategy, as well as its globally balanced and 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 farmer productivity, while working with stakeholders across the food system as it delivers on 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.
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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 of the sphere safeguards 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 “objectives”, “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 growth, capital allocation and productivity savings strategies 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 believed to be representative, no such list should be considered a complete statement of all potential risks and uncertainties. Factors not listed may present additional material impediments to the making of forward-looking statements. The consequences of material differences in results from 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, each 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 these forward-looking statements include: (i) the inability to obtain or maintain necessary regulatory approvals for certain Corteva products; (ii) failure to successfully develop and commercialize 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) effect of changes in agricultural and related policies of governments and international organizations; (v) the effect of competition and consolidation in Corteva’s industry; (vi) effect of competition from generic manufacturers; (vii) costs of compliance with changing 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 the distribution of Corteva’s products; (xi) the impact of Corteva’s reliance on third parties for certain of its raw materials or licensing and marketing; (xii) the effect of industrial espionage and other disruptions on 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 internal reorganizations undertaken by DowDuPont in connection with the Corteva spin-off and other cost reduction initiatives; (xv) failure to raise capital in 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 funding obligations and other post-employment benefits; (xviii) risks relating to indemnification obligations for former EID liabilities in connection with the separation from Corteva; (xix) the effect of compliance with laws and requirements and adverse judgments on litigation; (xx) risks relating to Corteva’s global operations; (xxi) inability to effectively manage acquisitions, divestitures, alliances and other portfolio actions; failure to perform; (xxii) risks related to COVID-19; (xxiii) risks related to activist shareholders; (xxiv) Corteva’s intellectual property rights or defend against intellectual property claims asserted by others; (xxv) effect of counterfeit products; (xxvi) Corteva’s reliance on intellectual property cross-licensing agreements; and (xxvii) other risks associated with Separation from DowDuPont. In addition, there may be other risks and uncertainties that Corteva cannot 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 about future results or events is expressed, such expectation or belief is based on the current plans and expectations of Corteva’s management and is expressed in good faith and believed to have a basis reasonable, but there can be no guarantee that the expectation or belief will result or be attained or fulfilled. Corteva disclaims any responsibility 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 important risks and uncertainties that could cause actual results and events to differ materially from these 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.