SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported) 8/2/99 (7/30/99)
E. I. du Pont de Nemours and Company
(Exact Name of Registrant as Specified in Its Charter)
Delaware 1-815 51-0014090
(State or Other Jurisdiction (Commission (I.R.S Employer
of Incorporation) File Number) Identification No.)
1007 Market Street
Wilmington, Delaware 19898
(Address of principal executive offices)
Registrant's telephone number, including area code: (302) 774-1000
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Item 5. Other Events
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In connection with Debt and/or Equity Securities that may be offered
on a delayed or continuous basis under Registration Statements on Form S-3
(No. 33-53327, No. 33-61339 and No. 33-60069), the registrant hereby files the
following press release.
Contact: Susan Gaffney
(302) 774-2698
DUPONT REALIGNS SENIOR LEADERSHIP RESPONSIBILITIES;
SETS PIONEER HI-BRED INTERNATIONAL INC., POST-MERGER EXECUTIVE ROLES
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WILMINGTON, Del., July 30 -- DuPont today announced that two senior
executives will realign responsibilities to better focus on major priorities
related to the company's evolving pharmaceuticals, agriculture and nutrition
strategy. The company also outlined senior executive roles for Pioneer
Hi-Bred International, Inc., which is expected to become a DuPont subsidiary
following the closing late this summer of DuPont's plan to acquire the
80 percent of Pioneer that it doesn't already own. The merger is subject to
approval by the shareholders of Pioneer.
Kurt M. Landgraf, executive vice president and chief operating
officer, will focus primarily on leading and implementing DuPont's pharma-
ceuticals strategy. DuPont announced in March that it planned to actively
seek strategic alliances with other strong partners in the pharmaceutical
industry to bring DuPont Pharmaceuticals to the critical mass necessary to
ensure long-term success. Landgraf will retain responsibility for DuPont's
consumer health presence in electronic commerce through its venture with
WebMD. He will continue to have responsibility for the European region.
Richard R. Goodmanson, executive vice president and chief operating
officer, will assume responsibility for the business and research units in the
Agriculture and Nutrition business segment currently reporting to Landgraf.
He also will have overall responsibility for the integration of Pioneer into
DuPont. Goodmanson will retain responsibility for the Asia Pacific region and
for businesses in the Specialty Fibers and Performance Coatings and Polymers
segments.
DuPont also said that, following the expected closing of the merger
with Pioneer, it plans to name Charles S. Johnson, currently chairman,
president and chief executive officer of Pioneer, to the position of DuPont
executive vice president and member of the office of the chief executive,
reporting to DuPont Chairman and CEO Charles O. Holliday Jr.
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Succeeding Johnson as president and chief executive officer of Pioneer
would be Jerry L. Chicoine, currently Pioneer's executive vice president and
chief operating officer. He would report to Goodmanson.
The offering of DuPont stock in connection with the Pioneer merger
will be made under an effective registration statement. A proxy statement/
prospectus will be mailed to Pioneer shareholders later this summer.
DuPont is a science company, delivering science-based solutions that
make a difference in people's lives in food and nutrition; health care;
apparel; home and construction; electronics; and transportation. Founded in
1802, the company operates in 65 countries and has 92,000 employees.
Forward-Looking Statements: This news release contains forward-looking state-
ments based on management's current expectations, estimates and projections.
All statements that address expectations or projections about the future,
including statements about the company's strategy for growth, product develop-
ment, market position, expected expenditures and financial results are
forward-looking statements. Some of the forward-looking statements may be
identified by words like "expects," "anticipates," "plans," "intends,"
"project," "indicates," and similar expressions. These statements are not
guarantees of future performance and involve a number of risks, uncertainties
and assumptions. Many factors, including those discussed more fully elsewhere
in this release and in DuPont's filings with the Securities and Exchange
Commission, particularly its latest annual report on Form 10-K, as well as
others, could cause results to differ materially from those stated. These
factors include, but are not limited to changes in the laws, regulations,
policies and economic conditions of countries in which the company does
business; competitive pressures; successful integration of structural changes,
including acquisitions, divestitures and alliances; failure of the company or
related third parties to become Year 2000 capable; research and development of
new products, including regulatory approval and market acceptance.
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7/30/99
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
E. I. DU PONT DE NEMOURS AND COMPANY
(Registrant)
/s/ John P. Jessup
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John P. Jessup
Vice President and Controller -
DuPont Finance
August 2, 1999
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