- Push-out Score determined
- After less than one year in the position
- Praise for Doyle
- Ed Breen taking over
(exechange) — Wilmington, Delaware, February 18, 2020 — This news came the day after Presidents Day. Marc Doyle, chief executive of DuPont, leaves. As announced by DuPont de Nemours Inc. in a news release and in a regulatory filing published on Tuesday, February 18, 2020, C. Marc Doyle has left his post as chief executive officer at the chemicals company after less than one year in the role, effective February 17, 2020.
Marc Doyle’s duties as CEO will be taken over by Edward D. (Ed) Breen, currently Executive Chairman of DuPont de Nemours Inc.
Marc Doyle’s move is part of a management shake-up also involving the position of Chief Financial Officer.
“To accelerate operational performance improvement”
The management change is explained as follows. DuPont said: “The Board of Directors has made these leadership changes to accelerate operational performance improvement and to more directly tap Ed Breen’s significant management experience.”
Precise information regarding Marc Doyle’s future plans was not immediately available.
DuPont said: “Marc Doyle and Jeanmarie Desmond, who have served as CEO and CFO respectively, will depart the company.”
DuPont further said: “The Company also announced that, as of the close of business on February 17, 2020, Mr. C. Marc Doyle departed from his position as Chief Executive Officer and director of the Company and that Ms. Jeanmarie Desmond departed from her position as Chief Financial Officer of the Company.”
Share price decline
The announcement follows a decline in DuPont de Nemours Inc.’s share price of 30% since March 2019.
In the position of CEO since 2019
Marc Doyle became CEO of the Company in 2019.
Before taking on the role of CEO, Marc Doyle was Chief Operating Officer for DowDuPont’s Specialty Products Division, and prior to that, he served as executive vice president of DuPont, overseeing the company’s diverse industrial businesses, including Electronics & Communications, Industrial Biosciences, Nutrition & Health, Performance Materials, Protection Technologies, and Sustainable Solutions.
He also led the pre-merger planning to develop a best-in-class cost structure, lean operating model, and synergy targets for the division.
Marc Doyle joined DuPont as a research engineer in 1995 and subsequently held positions spanning new business development, marketing, strategic planning, and business management.
Before being appointed President of Protection Technologies in 2013, he served as global business director, first in Photovoltaic Solutions and then for the Kevlar® and Nomex® businesses.
In these roles, he focused on building and leading customer-centric teams—driving growth and value.
Marc Doyle earned a B.S. in chemical engineering from the University of Virginia and a Ph.D. in chemical engineering from the University of California at Berkeley.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to DuPont and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 8.2020 ($).