Overview
- The crop protection business will keep the Corteva name, while the seed unit is being spun off as a separate company temporarily called SpinCo that includes the Pioneer brand.
- CEO Chuck Magro will lead the seed company after the separation, and chairman Greg Page will lead the remaining Corteva focused on crop protection.
- Corteva projects 2025 sales of about $7.8 billion for crop protection and $9.9 billion for seeds.
- The company says splitting will sharpen capital allocation and speed decisions as seed and chemical markets diverge, departing from peers that keep integrated seed-chemistry portfolios.
- Shares rose nearly 1% in premarket trading after the announcement, and the company aims for a tax-free spin pending board and legal approvals.