Du Pont's Big Remake May Need A Remix

Efforts to transform itself into a growth machine are behind schedule and stumbling

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.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.