Who will lead the two companies after the spin-off?

Chuck Magro will become CEO of SpinCo, the seed and genetics company, at separation. Luke Kissam will become CEO of New Corteva, the crop protection company. Greg Page will chair New Corteva after separation.

What are the main terms of Luke Kissam's employment agreement?

Kissam receives a $1.2 million annual base salary and a short-term incentive target of 150% of base salary, prorated for 2026. He receives a one-time 2026 equity award with a target grant value of $3.75 million, split evenly between PSUs and RSUs. Beginning in 2027 he is eligible for a long-term incentive with a $7.5 million target grant value. Relocation assistance is capped at $750,000.

Why is Robert King leaving, and what does he receive?

King's role as EVP of the Crop Protection Business Unit is being eliminated as he transitions to a strategic advisor to Kissam from July 1, 2026, through year-end 2026, after which he has elected to leave the company. He is eligible for a $1 million transition incentive tied to milestones and severance under the company's Change in Control and Executive Severance Plan.

Does this announcement change the timing of the separation?

No. The company states the separation remains on track for the fourth quarter of 2026. The filing notes, however, that the spin-off is subject to risks including execution, timing, costs, management distraction, talent retention, and possible litigation, and that the spin-off may not be completed at all.

Are there any leadership roles still unfilled?

Yes. New Corteva's chief legal officer and chief people officer roles are open, with internal and external searches underway. SpinCo's leadership team has been fully named in the press release, but its name and brand have not yet been announced and will be shared later, along with details of the September 15, 2026 investor day.

CTVA 8-K: Leadership Changes & Regulation FD

01—Abstract

Summary

Summary of the 8-K filed April 14, 2026. Cited figures are marked; the original filing is the authoritative source.

Corteva (CTVA) disclosed on April 14, 2026 the executive leadership structure for the planned fourth-quarter 2026 separation of its seed business ("SpinCo") from its crop protection business ("New Corteva").

Chuck Magro is slated to become CEO of SpinCo at separation, while Luther "Luke" Kissam, former Albemarle chairman, president and CEO, was named CEO of New Corteva. Kissam joins the company June 1, 2026 as CEO of the Crop Protection Business Unit ahead of the spin-off. His employment terms include a $1.2 million^a base salary, a 150% target short-term incentive, a $3.75 million one-time 2026 equity award, a $7.5 million target LTI beginning in 2027, and relocation assistance capped at $750,000.

He must also resign from the DuPont board on or before June 1, 2026. The filing lays out a largely internal succession. Jeff Rudolph, currently Chief Strategy Officer, becomes New Corteva's CFO, and David Johnson moves from CFO to SpinCo CFO.

Samuel Eathington becomes SpinCo CTO and Judd O'Connor becomes SpinCo Chief Commercial and Operations Officer. Brook Cunningham and Ralph Ford are named to New Corteva roles. Robert King, the current EVP of the Crop Protection Business Unit, will step into a strategic advisor role on July 1, 2026, remain through year-end 2026, and receive up to a $1 million^b transition bonus tied to milestones.

His role elimination triggers severance eligibility under the company's change-in-control and severance plan. Several leadership positions remain open or unannounced, including New Corteva's chief legal and chief people officers, and both companies plan investor days on September 15, 2026. The filing also notes that the spin-off timing and outcome remain subject to the risks of separation execution and talent retention.

02—Key points

Key Highlights

Corteva will split into two public companies in Q4 2026: SpinCo (seed and genetics, led by Chuck Magro as CEO) and New Corteva (crop protection, led by Luke Kissam as CEO).
Luke Kissam, former Albemarle Chairman, President and CEO, joins June 1, 2026 with a $1.2M base salary, 150% target bonus, and a $3.75M one-time 2026 equity award, plus a $7.5M target LTI from 2027.
Kissam's compensation package includes relocation assistance up to $750,000, and he must resign from the DuPont board by June 1, 2026.
Jeff Rudolph (currently Chief Strategy Officer) becomes New Corteva CFO, while David Johnson becomes SpinCo CFO, signaling a largely internal bench for the financial leadership of both entities.
Robert King, EVP of the Crop Protection Business Unit, moves to a strategic advisor role July 1, 2026, with a $1M transition bonus tied to milestones and severance eligibility under the company's plan.
New Corteva's chief legal officer and chief people officer roles remain open, with searches underway.
Both companies will host investor days on September 15, 2026 at the NYSE, with SpinCo's name and brand still to be announced.

03—Questions

Frequently Asked Questions

Who will lead the two companies after the spin-off?
Chuck Magro will become CEO of SpinCo, the seed and genetics company, at separation. Luke Kissam will become CEO of New Corteva, the crop protection company. Greg Page will chair New Corteva after separation.
What are the main terms of Luke Kissam's employment agreement?
Kissam receives a $1.2 million annual base salary and a short-term incentive target of 150% of base salary, prorated for 2026. He receives a one-time 2026 equity award with a target grant value of $3.75 million, split evenly between PSUs and RSUs. Beginning in 2027 he is eligible for a long-term incentive with a $7.5 million target grant value. Relocation assistance is capped at $750,000.
Why is Robert King leaving, and what does he receive?
King's role as EVP of the Crop Protection Business Unit is being eliminated as he transitions to a strategic advisor to Kissam from July 1, 2026, through year-end 2026, after which he has elected to leave the company. He is eligible for a $1 million transition incentive tied to milestones and severance under the company's Change in Control and Executive Severance Plan.
Does this announcement change the timing of the separation?
No. The company states the separation remains on track for the fourth quarter of 2026. The filing notes, however, that the spin-off is subject to risks including execution, timing, costs, management distraction, talent retention, and possible litigation, and that the spin-off may not be completed at all.
Are there any leadership roles still unfilled?
Yes. New Corteva's chief legal officer and chief people officer roles are open, with internal and external searches underway. SpinCo's leadership team has been fully named in the press release, but its name and brand have not yet been announced and will be shared later, along with details of the September 15, 2026 investor day.

04—Continue

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