Corteva Inc., which is based in Indianapolis, has officially announced plans to split its seed and pesticide businesses into two independent, publicly traded companies.
According to a press release issued on Wednesday, the company says its board of directors have unanimously approved a plan to separate the current crop protection business into “New Corteva” and the other operations comprising its current seed business into “SpinCo.”
The company says the split is expected to be completed in the second half of 2026.
Upon separation, current Corteva Chair Greg Page will become Chair of “New Corteva”; current Corteva CEO Chuck Magro will become CEO of “SpinCo.” The company says it will announce the full board and management teams of both companies at a later date.
“Over the past six years, we have taken deliberate steps to build a strong, successful technology company: we simplified our portfolio, reduced cost, invested in high-return endeavors and ensured our pipeline would maximize impact to farmers and returns to the company. As a result, Corteva has become the clear industry leader, with market-leading positions in both crop protection and seed. As we look to the future, we want to best position both businesses to win in their respective markets and accelerate value for shareholders,” said Corteva CEO Chuck Magro.
“The seed and crop protection markets have evolved, and as a result, we see the opportunities ahead for both companies diverging – this is the right time to act to stay ahead of the market. This separation will allow both businesses to maximize long-term value creation by focusing on their own priorities. As such, we see this separation as the logical next step in their growth trajectory,” added Magro.
It was reported in September that Corteva executives and board members had been considering splitting into two companies.
Separating Corteva’s into two companies could help protect the seeds business from any future liabilities related to their production and sale of crop protection products, according to recent report from The Wall Street Journal.
The company said the SpinCo portion of the company had estimated revenue of $9.9 billion in 2025, representing 56% of revenue for Corteva. Meanwhile, the New Corteva part of the company had estimated revenue of $7.8 billion in 2025, representing 44% of revenue for Corteva.
The company, which does business around the world in 110 countries, received $8.6 billion in total sales last year in North America alone, and reportedly has a market value of $50 billion.
Corteva says their company sells seeds for more than 100 crops and has more than 400 seed and crop protection products. The company also says it has roughly 100 production facilities around the world and more than 120 research and development facilities.
Indianapolis became the global headquarters for Corteva in 2022. The company says it has more than 20,000 employees worldwide, including about 1,500 at its corporate headquarters along Zionsville Road near West 96th Street, south of I-465 in northwestern Marion County.
Corteva’s most popular corn seed brand is Pioneer, which was founded in 1926 in Des Moines, Iowa. Meanwhile, the company is also known for its Enlist brand of soybeans.
In 1989, Eli Lilly and Co. and Dow Chemical Co. formed DowElanco to produce agricultural products. In 1997, Dow acquired full ownership and renamed the operation Dow AgroSciences.
In 2015, Dow and DuPont announced plans to merge, then divide into three independent companies. A year later, the merged companies became DowDuPont, with Indianapolis being named as one of its “global business centers.”
In 2018, Corteva Agriscience was unveiled as the agricultural division’s new name. A year later, DowDuPont spun off Corteva as an independent company. Chuck Magro has been CEO of Corteva since November 1, 2021.
CLICK HERE to read the full press release from Corteva.
