Du Pont's Big Remake May Need A Remix
Give DuPont Chairman and Chief Executive Officer Charles O. Holliday Jr. credit for thinking big. After taking the helm in early 1998, Holliday shifted the transformation of the $29 billion chemical and materials giant into high gear. Spinning off the massive Conoco Inc. oil and gas unit and pumping big bucks into a biotechnology seed company, Holliday promised investors he would remake DuPont from an Old Economy producer of cyclical commodities into a dazzling industrial growth company. The push into ag-biotech and pharmaceuticals was at the heart of that overhaul. The company's goal: to generate 30% of its income from those life sciences by 2002.
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