01—Abstract
Summary
Summary of the 8-K filed June 27, 2024. Cited figures are marked; the original filing is the authoritative source.
DuPont de Nemours, Inc. filed this Form 8-K on June 27, 2024 under Item 5.02 (Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers).
The filing reports that, effective June 27, 2024, the Board of Directors appointed Lori D. Koch, the Company's Chief Executive Officer, to the Board. The filing states that Ms. Koch has served as Chief Executive Officer since June 1, 2024, and previously served as Chief Financial Officer since February 2020.
Before that, she was Vice President, Investor Relations and Corporate Financial Planning & Analysis from June 2019, and held finance and investor relations roles at E. I. du Pont de Nemours and Company ("EIDP") from April 2008 onward. The filing states that Ms. Koch has not been appointed to, and is not expected to join, any Board committees, and that she will receive no additional compensation for her Board service.
It also states that she has no family relationship with any director or executive officer, no arrangement or understanding under which she was selected as a director, and no material interest in any related-person transaction under Item 404(a) of Regulation S-K. She currently serves as a director of Actylis, a New Mountain Capital LLC portfolio company, and is on the Board of Visitors of the Smeal College of Business at Penn State University.
For investors, the principal item is the leadership change: the CEO now also sits on the Board, and the filing describes her as having moved from CFO to CEO effective June 1, 2024. The filing does not include financial results, guidance, or compensation terms for the CEO role.
02—Key points
Key Highlights
- Lori D. Koch, the Company's Chief Executive Officer, was appointed to the Board of Directors effective June 27, 2024.
- Ms. Koch has served as Chief Executive Officer since June 1, 2024, after serving as Chief Financial Officer since February 2020.
- Ms. Koch has not been appointed to, and is not expected to join, any Board committees.
- Ms. Koch will not receive any additional compensation for her Board service.
- The filing states she has no family relationship with any director or executive officer and no material interest in any Item 404(a) related-person transaction.
- Her prior roles include Vice President, Investor Relations and Corporate Financial Planning & Analysis (from June 2019) and Director of Investor Relations of EIDP (July 2016 to May 2019).
- She currently serves as a director of Actylis, a New Mountain Capital LLC portfolio company.
03—Questions
Frequently Asked Questions
Who was appointed to the Board of Directors?
The Board appointed Lori D. Koch, the Company's Chief Executive Officer, effective June 27, 2024.
When did Ms. Koch become Chief Executive Officer?
The filing states that Ms. Koch has served as Chief Executive Officer since June 1, 2024. She previously served as Chief Financial Officer since February 2020.
Will Ms. Koch serve on any Board committees or receive extra pay for Board service?
The filing states she has not been appointed to, and is not expected to join, any Board committees, and that she will not receive any additional compensation for her Board service.
Does Ms. Koch have any relationships or interests that the filing discloses?
The filing states she has no family relationship with any director or executive officer, no arrangement or understanding under which she was selected as a director, and no direct or indirect material interest in any transaction required to be disclosed under Item 404(a) of Regulation S-K.
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