Reuters

(Reuters)

DuPont CEO Ellen Kullman to Retire

Energy Reuters

Chemicals maker DuPont (DD) said Chief Executive Ellen Kullman would retire on Oct. 16.

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Edward Breen, a member of the DuPont board, will assume the role of interim CEO, DuPont said on Monday.

The company's shares rose 4.9 percent to $53.79 in extended trading.

Kullman, who joined the company more than 27 years back, has been its CEO since 2009.

Under Kullman, DuPont fended off an attempt by activist investor Nelson Peltz's Trian Fund Management to land board seats earlier this year.

DuPont also lowered its 2015 forecast for operating earnings per share to about $2.75 from $3.10.

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The lower guidance is mainly due to the strengthening of the U.S. dollar versus currencies in emerging markets, particularly the Brazilian real, and a further weakening of agricultural markets, primarily in Brazil, DuPont said.

Excluding the impact of currency, operating earnings per share for the year, including expected benefits from share repurchases and cost savings, are expected to rise 3 percent from a year earlier.

(Reporting by Sneha Banerjee in Bengaluru; Editing by Maju Samuel)