Corteva splits into crop protection, seed businesses

INDIANAPOLIS — On Oct. 1, Corteva gave shareholders ownership in two separate agricultural stocks. One will be its crop protection business, known as New Corteva; the other will be its seed business, being spun off into Vylor.

“This is a new day for Corteva, and we couldn’t be more excited as we move forward with greater focus, agility and a renewed commitment to innovation and operational excellence,” said Corteva CEO Luke Kissam. “As the challenges facing agriculture continue to evolve, we’re ready to meet the needs of the future with the industry’s best people, portfolio and pipeline — advancing safe, effective and sustainable solutions that deliver for farmers, our channel partners and our shareholders.”

Corteva said holders of record on Sept. 24 received one Vylor share for every Corteva share they owned. That leaves holders with two very different companies to evaluate. One of these companies sells seed, and the other sells farm chemicals.

With an $11 billion crop protection pipeline, world-class R&D capabilities, including microbial discovery, integrated development and predictive safety platforms, Kissam said Corteva’s future growth will be driven by innovation farmers need most. Today, the company’s nearly 9,000 employees serve growers in approximately 110 countries.