DuPont keeps existing food business chief as head of expanded unit
The US chemicals company announced yesterday how it plans to integrate Danisco into its existing business, having secured the acquisition of the Danish company for $6.49bn at the end of last week.
$3bn food business
Danisco Food Ingredients is to merge into the Nutrition & Health unit at DuPont creating a $3bn specialty food ingredients and food safety business.
Craig Binetti, who has been heading up the Nutrition & Health business since 2007, will become president of the expanded unit.
Binetti has built up a 34-year career at DuPont, during which time he has served as chairman and CEO of Solae – its soy protein joint venture with Bunge.
The other big change at DuPont following the Danisco acquisition is the creation of a new division - to be called Industrial Biosciences.
This $1bn business is to be formed by bringing together the Genencor enzyme division at Danisco with the DuPont Applied BioSciences business.
The new business will be led by James Collins, who has been in charge of the integration team preparing for the Danisco acquisition. Collins had previously been the head of the Crop Protection business at DuPont from 2004 to 2011.
Meanwhile, Richard Olson, who leads efforts to improve productivity and efficiency at DuPont, will take on responsibility for the ongoing integration of Danisco across both Nutrition & Health and Industrial Biosciences.
DuPont said more details on both the businesses will be revealed when the company reports its second quarter earnings in late July.