DuPont CEO Stepping Down

Wilmington, DE, Sept 23, 2008--DuPont's CEO Charles Holliday Jr., announced Tuesday that he is stepping down after 10 years in which he changed the company into a science-based products and services company.

He will be replaced as CEO by Ellen Kullman, who will become president and director on Oct. 1 and chief executive on Jan. 1. She eventually will succeed Holliday as chairman.

"Having transformed the company, increased our profitability and returns, and developed a talented and strong next generation of leaders, now is the right time to make a seamless transition to new leadership," Holliday said in a statement.

Holliday, 60, has been with the company for 38 years.

Kullman, 52, is executive vice president and a member of the company's office of the chief executive. Revenue in the company's safety and protection segment increased from $3.5 billion to $5.5 billion while she was group vice president from 2002 to 2006.

During Holliday's tenure, DuPont completed more than $60 billion in transactions that have changed the company while bolstering earnings.