Corteva Inc. announced that Luke Kissam, former chairman, president and CEO of Albemarle, will become chief executive officer of its future crop protection company, New Corteva, effective June 1, 2026. The appointment follows the company’s plan to split into two independent public entities in the fourth quarter of 2026, with New Corteva focusing on crop protection and SpinCo on seeds and genetics.
The split will be completed in the fourth quarter of 2026, and the two new companies will host an investor day on September 15, 2026, at the New York Stock Exchange to outline their strategies. Chuck Magro, Corteva’s current CEO, will assume the role of SpinCo CEO at separation, ensuring continuity for the seed and genetics business while allowing New Corteva to pursue a dedicated growth agenda.
Corteva’s 2025 financial results provide context for the split. Net sales totaled $17.40 billion, up 3% year‑over‑year, with the seed segment generating $9.90 billion (4% growth) and the crop protection segment $7.50 billion (2% growth). The company guided for operating EBITDA of $4.0–$4.2 billion in 2026, an increase from the prior guidance of $3.85 billion, reflecting confidence in continued margin expansion and demand in both segments.
Kissam’s background in specialty chemicals and agribusiness positions New Corteva to accelerate its crop protection portfolio. His experience at Albemarle, where he led a large, complex organization, is expected to bring disciplined cost management and a focus on innovation to the new company. Magro’s transition to SpinCo CEO preserves the seed business’s momentum, leveraging his experience as Corteva’s CEO and his track record at Nutrien to maintain the company’s leadership in seed technology and licensing.
Analysts have expressed confidence in Corteva’s strategic direction, noting that the split should unlock value by allowing each business to focus on its core strengths. The leadership changes are seen as a key milestone in the company’s transition to two focused, pure‑play entities, with the investor day slated for September 15 providing further detail on growth plans and financial targets for both New Corteva and SpinCo.
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