05:57 PM EDT, 05/22/2024 (MT Newswires) -- DuPont de Nemours ( DD ) said Wednesday it plans to separate into three publicly traded companies and announced the appointment of new chief financial and chief executive officers while reaffirming its Q2 and full-year guidance.

DuPont ( DD ) said it intends to separate its electronics and water businesses tax-free for its shareholders and expects to complete the separation within 18 to 24 months.

The split will not require a shareholder vote but is subject to conditions, including final approval by the board, the filing and effectiveness of Form 10 registration statements with the US Securities and Exchange Commission and applicable regulatory approvals, the company said.

DuPont ( DD ) said its board has appointed CFO Lori Koch as CEO, succeeding Edward Breen, who will transition to full-time executive chair, starting June 1.

The company named Antonella Franzen as the new CFO, effective June 1.

DuPont ( DD ) reaffirmed Q2 guidance of $0.84 in adjusted EPS and $3.03 billion in net sales. The company also continues to expect 2024 adjusted EPS of $3.45 to $3.75 on net sales of $12.10 billion to $12.40 billion.

Shares of the company rose 3.4% in after-hours trading.

Price: 81.20, Change: +2.65, Percent Change: +3.37