WILMINGTON, DE – DuPont's board of directors has selected CFO Lori D. Koch to succeed Edward D. Breen as the company’s CEO, effective June 1.

Breen will transition from the role of CEO to full-time executive chairman of the board of directors, and Koch is expected to join the board at its next regularly scheduled meeting in June.

The company also named Antonella B. Franzen, chief financial officer of its Water and Protection segment, CFO effective June 1.

"As Executive Chairman and CEO of DuPont, Ed Breen has guided the company through a significant chapter of transformation and value creation. We are grateful for his leadership," said Alexander M. Cutler, DuPont’s lead independent director. "The board believes that Lori Koch is an ideal leader for the next phase of the company’s journey and is pleased that Ed will continue serving as a trusted partner to her."

"I am delighted that Lori will serve as DuPont's next CEO," said Breen. "She has had a tremendous impact as CFO, helping us navigate the unprecedented challenges of the past few years while positioning the company for long-term success. I’m confident that her leadership capability and vision will further accelerate DuPont’s transformation and growth.

"Additionally, Antonella will be terrific as DuPont’s next CFO," continued Breen. "I’ve known her for many years, and she’ll be a strong partner to Lori in delivering financial excellence."

"I am honored to be appointed as the next CEO of DuPont, and I’m excited about our company's future," Koch said. "It’s been a privilege to have worked side-by-side with Ed these past several years, and I look forward to working with him, Antonella, and our DuPont colleagues around the world in continuing to drive value for our customers, employees, shareholders, and communities."