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Carroll School of Management

ceo2016-10-05

Edward D. Breen

Chairman and CEO, DuPont

"A Conversation with DuPont's Chairman and CEO, Edward Breen"

Edward Breen, chairman and chief executive officer of DuPont, sat down with Delphi Automotive Chairman Raj Gupta at the December 8 meeting of the Boston College Chief Executives Club at the Boston Harbor Hotel. Breen, who served on DuPont's board before assuming the helm of the chemical-manufacturing conglomerate last year, engineered a proposed $130 billion merger agreement between DuPont and the Dow Chemical Company. (The deal is subject to regulators' approval, which Breen said he expects is forthcoming.) Breen and Gupta talked about the DuPoint chief executive's success in turning around Tyco, a company that was very close to bankruptcy when he took over as CEO in 2002. Breen said the experience taught him the importance of "living with your customer," and the critical role of teamwork in any company. "A lot of people like politics and talking behind people’s backs, and I don’t want any of that," he said. David Torchiana, M.D., president and chief executive officer of Partners HealthCare, introduced Breen and Gupta.    

TAKEAWAYS

"Instead of separating back into two [after the merger of Dow and DuPont], we're going to separate into three companies—a materials science, an agriculture, and a specialty company. It's going to create more value. They're each going to have the right balance sheet for their businesses, so they can grow and do their thing." Transcript and Video about Long-term Value

"We just need to…get a tax rate that's competitive with the rest of the world. If we could repatriate the $3 to $4 trillion that's sitting overseas in all of our bank accounts…I think what it would unleash would be unbelievable." Transcript and Video about Repatriation of US Money  

"It goes back to…risk—what could happen to you? And if something's going to cannibalize your business, you might as well be the one to cannibalize your own business." Transcript and Video about Risk Factor

PRESS COVERAGE

Boston Business Journal
"DuPont CEO talks openness, strategy and populism"

Fortune
"Donald Trump Won't Block Dow-DuPont Mega Merger"

Reuters, Business News
"DuPont CEO Breen says Trump win unlikely to impact Dow deal"

 

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