Corteva announces business-unit organization model to capitalize on company strengths and growth

Corteva, Inc. (NYSE: CTVA) 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.