01—Abstract
Summary
Summary of the 8-K filed February 21, 2025. Cited figures are marked; the original filing is the authoritative source.
DuPont de Nemours, Inc. (NYSE: DD) announced on February 21, 2025 that it appointed Kurt B.
McMaken to its Board of Directors, effective immediately. The Board determined that Mr. McMaken is an independent director under New York Stock Exchange listing standards, SEC rules, and the Company's Corporate Governance Guidelines, and that he meets the SEC's criteria of an audit committee financial expert. He will serve on the Audit Committee and the Nomination and Governance Committee.
Mr. McMaken, 55, is currently Chief Financial Officer of The Brink's Company, a provider of cash and valuables management, digital retail solutions, and ATM managed services. Before joining Brink's in 2022, he held a series of financial and management roles of increasing responsibility at Eaton Corporation plc from 2001 to 2022, most recently as Senior Vice President, Operations Finance and Transformation. He began his career in the Audit & Business Advisory Services practice at PricewaterhouseCoopers LLP.
He holds a B.S. from Georgetown University and an M.B.A. from the University of Chicago Booth School of Business. The filing states there is no arrangement or understanding under which Mr. McMaken was selected as a director, and no transactions requiring disclosure under Item 404(a) of Regulation S-K.
He will receive the Company's standard compensation for non-employee directors. The announcement was made through a press release attached as Exhibit 99.1, in which DuPont's Executive Chairman Ed Breen praised his global manufacturing and finance expertise.
02—Key points
Key Highlights
- Kurt B. McMaken, 55, joined the DuPont Board of Directors effective February 21, 2025.
- Board determined he is an independent director and an SEC-defined audit committee financial expert.
- He will serve on the Audit Committee and the Nomination and Governance Committee.
- Currently CFO of The Brink's Company; previously spent about 20 years at Eaton Corporation plc, most recently as SVP, Operations Finance and Transformation.
- No related-party transactions requiring disclosure under Item 404(a) of Regulation S-K.
- Receives the Company's standard compensation for non-employee directors.
- DuPont Executive Chairman Ed Breen said Mr. McMaken's manufacturing and finance expertise will help guide DuPont's growth and value creation strategies.
03—Questions
Frequently Asked Questions
Who is the new DuPont board member?
Kurt B. McMaken, 55, the current Chief Financial Officer of The Brink's Company, who was appointed to DuPont's Board of Directors effective February 21, 2025.
What board committees will Mr. McMaken serve on?
He will serve on the Audit Committee and the Nomination and Governance Committee.
Is Mr. McMaken considered independent?
Yes. The Board determined he is an independent director under NYSE listing standards, SEC rules, and the Company's Corporate Governance Guidelines, and that he meets the SEC's criteria of an audit committee financial expert.
What is Mr. McMaken's professional background?
He joined Brink's in 2022 after roles at Eaton Corporation plc from 2001 to 2022, where he was most recently Senior Vice President, Operations Finance and Transformation. He began his career at PricewaterhouseCoopers LLP in its Audit & Business Advisory Services practice.
Will Mr. McMaken receive any special compensation or have related-party interests?
No special arrangement is disclosed. He will receive the Company's standard compensation for non-employee directors, and the filing states there are no transactions with him requiring disclosure under Item 404(a) of Regulation S-K.
04—Continue