11 December 1997: The board of directors of the US chemicals operation DuPont has approved a management transition, where Charles O. Holliday Jr. was elected to take over John A. Krol“s current posit…
11 December 1997: The board of directors of the US chemicals operation DuPont has approved a management transition, where Charles O. Holliday Jr. was elected to take over John A. Krol“s current position as President and CEO. Krol said that following a recent board of directors meeting, Edgar S. Woolard, Jr. stepped down as board chairman and CEO. Krol then became chairman and CEO, and plans to hold this title until 1 February 1998, when his successor will take over. Holliday has spent his entire 27-year career at the company, and has held a range of manufacturing, marketing and business assignments, primarily pertaining to the company“s fibres and chemicals sectors. At the recent board of directors meeting, Krol announced, “Chad (Charles Holliday) has clearly demonstrated his ability to lead organisations and create shareholder value. He has played a major leadership role in the growth of our business in Asia Pacific and the reshaping of our portfolio, particularly our life sciences acquisitions and the restructuring and divestiture of our printing and publishing businesses. While aggressively executing our strategies for long-term profitable growth, Chad and his team will continue to strongly emphasise productivity and the delivery of short-term results. I will fully support Chad and his team while seeking strategic opportunities for accelerated growth in shareholder value.” Krol said he had to give up his position as President and CEO due to “family considerations”. -jp