Business Context and Reporting Period
This Form 8-K filing by E. I. du Pont de Nemours and Company (DuPont) reports a corporate governance event. The report date is December 14, 2005, with the filing signed on December 15, 2005.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The document is strictly a current report regarding the election of a new director.
Material Changes
The material change reported is the election of Thère du Pont as a new director of the Company, effective January 1, 2006. This appointment was made by the Board of Directors upon the recommendation of the Corporate Governance Committee.
Outlook, Commentary, and Risks
Management Commentary: Charles O. Holliday, Jr., Chairman and CEO, stated that the Board welcomes Mr. du Pont's experience in business management, consumer marketing, and supply chain management. He noted that as a member of the du Pont family, Mr. du Pont will bring valuable perspectives to the board.
New Director Background: Thère du Pont is the president of Wawa Inc., a privately held retailer with over 540 stores. He holds a B.S. in mechanical engineering and an M.B.A. from Stanford University.
Committee Assignments: At the time of the filing, Mr. du Pont had not been named to any board committees, and it was premature to state future assignments.
Risks and Contingencies: The filing states there are no arrangements or understandings regarding the election and no transactions requiring disclosure under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Confirm the effective date of the new director's term (January 1, 2006).
- Review the attached press release (Exhibit 99.1) for full biographical details of Thère du Pont.
- Monitor future filings for the assignment of Mr. du Pont to specific board committees.
- Verify that no undisclosed related-party transactions exist involving the new director.