Mark Blinn announced as director and chairman and Yi Hyon Paik as director
WILMINGTON, Del., June 11, 2025 /PRNewswire/ -- DuPont (NYSE:DD) today announced that Mark A. Blinn and Dr. Yi Hyon Paik will become members of the future board of directors (the "Qnity Board") for Qnity Electronics, Inc., the planned, independent Electronics public company created from DuPont's intended spin-off.*
Mr. Blinn will become chairman of the Qnity Board effective with the spin-off. Mr. Blinn was chief executive officer, president, and director of Flowserve Corporation until his retirement in 2017. He is currently a member of the board of directors of Texas Instruments, a global semiconductor company, where he has served for more than a decade. He also serves on the boards of directors of Emerson Electric Co. and Globe Life Inc.
Dr. Yi Hyon Paik has more than 20 years of industry experience in semiconductors and electronics materials, including as the president and chief strategy officer of Samsung SDI, executive vice president and head of the Electronics Materials Business at Samsung Cheil Industries, as well as various leadership roles at The Dow Chemical Company and Rohm & Haas. Dr. Paik currently serves on the board of directors of Orion S.A., a global specialty chemicals company and is an advisor to RecycLiCo Battery Materials Inc.
"I am delighted that Mark and Yi Hyon will join the future board of Qnity. We look forward to their invaluable insights and the role they will play in advising and guiding the future company's success as a pure play electronics company," said Alexander M. Cutler, DuPont's Lead Independent Director. "Both bring a depth of executive experience and industry knowledge of the semiconductor sector that complements the diverse set of skills we've assembled in creating the future Qnity Board."
The full Qnity Board of Directors will include:
- Dr. Shumeet Banerji, founder of Condorcet, LP
- Mark A. Blinn, former CEO, President, and Director of Flowserve Corporation
- Terrence R. Curtin, CEO and Board Member of TE Connectivity
- Karin De Bondt, Senior Vice President and Chief Strategy Officer for Trane Technologies
- Byron Green, former Vice President of Global Operations for L3Harris Technologies
- Dr. Kristina M. Johnson, former President of The Ohio State University
- Jon Kemp, President, DuPont's Electronics business, and Qnity CEO-elect
- Anne Noonan, former President and CEO of Summit Materials
- Dr. Yi Hyon Paik, former President and Chief Strategy Officer of Samsung SDI
- Steven M. Sterin, Senior Advisor to McKinsey & Company and former Chief Financial Officer of Andeavor
About DuPont
DuPont (NYSE:DD) is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, healthcare and worker safety. More information about the company, its businesses and solutions can be found at www.dupont.com. Investors can access information included on the Investor Relations section of the website at investors.dupont.com.
DuPont™, the DuPont Oval Logo, Qnity™ and all trademarks and service marks denoted with ™, SM or ® are owned by affiliates of DuPont de Nemours, Inc. unless otherwise noted.
*On January 15, 2025, DuPont announced it is targeting November 1, 2025, for the completion of the intended separation of the Electronics business (the "Intended Electronics Separation"). The Intended Electronics Separation will not require a shareholder vote and is subject to satisfaction of customary conditions, including final approval by DuPont's Board of Directors, receipt of tax opinion from counsel, the completion and effectiveness of the Form 10 registration statement filed with the U.S. Securities and Exchange Commission, applicable regulatory approvals and satisfactory completion of financing.
Cautionary Statement about Forward-Looking Statements
This communication contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "target," "stabilization," "confident," "preliminary," "initial," "drive," "innovate" and similar expressions and variations or negatives of these words.
Forward-looking statements address matters that are, to varying degrees, uncertain and subject to risks, uncertainties, and assumptions, many of which that are beyond DuPont's control, that could cause actual results to differ materially from those expressed in any forward-looking statements. Forward-looking statements are not representations or warranties or guarantees of future results.
Some of the important factors that could cause DuPont's actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: (i) the ability of DuPont to effect the Intended Electronics Separation and to meet the conditions related thereto; (ii) the possibility that the Intended Electronics Separation will not be completed within the anticipated time period or at all; (iii) the possibility that the Intended Electronics Separation will not achieve its intended benefits; (iv) the impact of Intended Electronics Separation on DuPont's businesses and the risk that the separation may be more difficult, time-consuming or costly than expected, including the impact on DuPont's resources, systems, procedures and controls, diversion of management's attention and the impact and possible disruption of existing relationships with customers, suppliers, employees and other business counterparties; (v) the possibility of disruption, including disputes, litigation or unanticipated costs, in connection with the Intended Electronics Separation; (vi) the uncertainty of the expected financial performance of DuPont or the separated company following completion of the Intended Electronics Separation; (vii) negative effects of the announcement or pendency of the Intended Electronics Separation on the market price of DuPont's securities and/or on the financial performance of DuPont; (viii) the ability to achieve anticipated capital structures in connection with Intended Electronics Separation, including the future availability of credit and factors that may affect such availability; (ix) the ability to achieve anticipated credit ratings in connection with the Intended Electronics Separation; (x) the ability to achieve anticipated tax treatments in connection with the Intended Electronics Separation and completed and future, if any, divestitures, mergers, acquisitions and other portfolio changes and the impact of changes in relevant tax and other laws; (xi) risks and costs related to each of the parties respective performance under and the impact of the arrangement to share future eligible PFAS costs by and among DuPont, Corteva and Chemours, including the outcome of any pending or future litigation related to PFAS or PFOA, including personal injury claims and natural resource damages claims; the extent and cost of ongoing remediation obligations and potential future remediation obligations; and changes in laws and regulations applicable to PFAS chemicals; (xii) indemnification of certain legacy liabilities; (xiii) the failure to realize expected benefits and effectively manage and achieve anticipated synergies and operational efficiencies in connection with the Intended Electronics Separation and completed and future, if any, divestitures, mergers, acquisitions, and other portfolio management, productivity and infrastructure actions; (xiv) the risks and uncertainties, including increased costs and the ability to obtain raw materials and meet customer needs from, among other events, pandemics and responsive actions; (xv) adverse changes in worldwide economic, political, regulatory, international trade, geopolitical, capital markets and other external conditions; and other factors beyond DuPont's control, including inflation, recession, military conflicts, natural and other disasters or weather-related events, that impact the operations of DuPont, its customers and/or its suppliers; (xvi) the ability to offset increases in cost of inputs, including raw materials, energy and logistics; (xvii) the risks associated with continuing or expanding trade disputes or restrictions, new or increased tariffs or export controls including on exports to China of U.S.-regulated products and technology; (xviii) the risks, including ability to achieve, and costs associated with DuPont's sustainability strategy, including the actual conduct of DuPont's activities and results thereof, and the development, implementation, achievement or continuation of any goal, program, policy or initiative discussed or expected; (xix) other risks to DuPont's business and operations, including the risk of impairment; and (xx) other risk factors discussed in DuPont's most recent annual report and subsequent current and periodic reports filed with the U.S. Securities and Exchange Commission. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business or supply chain disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on DuPont's consolidated financial condition, results of operations, credit rating or liquidity. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. DuPont assumes no obligation to publicly provide revisions or updates to any forward-looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.
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SOURCE DuPont