Masahisa Naitoh to Retire from DuPont Board
WILMINGTON, Del., March 11 /PRNewswire-FirstCall/ -- DuPont (NYSE: DD) today announced that Alexander "Sandy" M. Cutler, chairman and CEO of Eaton Corporation, will be a nominee for election to its board of directors during the company's annual stockholders meeting on April 30.
DuPont also said board member Masahisa Naitoh, 70, chairman and CEO of The Institute of Energy Economics in Japan, has reached the board's mandatory retirement age after eight years of service and will not stand for election at the annual meeting.
"The contributions of Naitoh-san have been instrumental in the transformation of DuPont into a market-driven science company," said Charles O. Holliday, Jr., DuPont chairman and CEO. "We are appreciative of his commitment and service on the board. We wish Naitoh-san the very best."
"Sandy leads a diverse, global business and understands the dynamics of the marketplace. We look forward to the wealth of knowledge and insight that he will bring to the DuPont board," Holliday added. "We will benefit from his experience and perspectives as we accelerate our progress to achieve higher profitable growth."
Cutler, 57, has been chairman and CEO of Eaton Corporation, a global diversified industrial manufacturer headquartered in Cleveland, Ohio, since 2000. He previously served as its president and chief operating officer for five years. During his 33-year career at Eaton, Cutler has led a broad range of businesses and strategic functions, including its global Operations and earlier its Controls Group.
DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
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