Corteva, Inc. (NYSE: CTVA), a global leader in agricultural technology, today announced that its Board of Directors has unanimously approved a plan to separate the company into two standalone, publicly traded entities:
- “New Corteva” – focused on the Crop Protection business
- “SpinCo” – focused on the Seed business
This strategic separation is designed to unlock the full potential of each business, enabling both to operate with greater focus, agility, and tailored strategies to drive sustainable growth. Both companies will remain farmer-centric, powered by innovation, and guided by capital allocation models that reflect their unique market opportunities.
Upon completion of the separation:
- Greg Page, current Chair of Corteva, will serve as Chair of New Corteva.
- Chuck Magro, current CEO of Corteva, will become CEO of SpinCo.
- Full board and executive leadership teams for both companies will be announced in due course.
Anticipated Benefits of the Separation
Each business is expected to benefit through:
- Sharper strategic and operational focus aligned with its growth trajectory.
- Tailored capital allocation strategies, providing flexibility for both organic and inorganic investment opportunities, supported by targeted investment-grade credit ratings.
- Enhanced agility to respond to evolving market dynamics and deliver consistent returns.
- Distinct investment profiles designed to unlock greater long-term shareholder value.
New Corteva (Crop Protection Business)
- 2025E Revenue: $7.8B
- 2025E Operating EBITDA / Margin: $1.35B / ~17%
Operating Model:
Globalized, optimized operations with supply chain efficiencies, direct-to-market capabilities, and fit-for-purpose organizational design.
Strategic Focus:
Advance industry leadership in genetics and cutting-edge solutions to help farmers drive productivity worldwide.
Future Value Drivers:
Sustainable, differentiated products (including biologicals), operational excellence, and disciplined M&A.
SpinCo (Seed Business)
- 2025E Revenue: $9.9B
- 2025E Operating EBITDA / Margin: $2.6B / ~26%
Operating Model:
Long-standing growth engine with a century of customer loyalty, strong market leadership, and financial durability.
Strategic Focus:
Expand leadership in differentiated, innovative solutions—including biologicals and nature-based products.
Future Value Drivers:
Gene editing, hybrid wheat, biofuels, expansion beyond row crops, and high-return M&A.
About Corteva
Corteva, Inc. (NYSE: CTVA) is a leading global agriculture company dedicated to enriching the lives of farmers and consumers. Through a balanced portfolio of seeds, crop protection, and digital solutions, Corteva combines industry-leading innovation, deep customer engagement, and strong operational execution to address some of the world’s most pressing agricultural challenges. The company’s globally diverse mix of brands and robust technology pipeline are positioned to drive long-term growth and productivity, fulfilling its promise of progress for generations to come.
Source: Corteva Press Release
