Global agriculture technology leader Corteva plans to separate the company into two independent, publicly traded companies, one comprising its current Crop Protection business ("New Corteva") and the other comprising its current Seed business ("SpinCo").  If approved by regulators, the transaction may close 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 seed and crop protection markets have evolved, and as a result, we see the opportunities ahead for both companies diverging,” says Corteva CEO Chuck Magro. “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." 
 

Over the past few years, with its focus on efficiency and differentiation, the business that will become New Corteva has been a strong performer in an industry experiencing intensifying competition. Today, while the industry is well supplied - not only in production and capacity, but also with market participants - the market continues to value effective, differentiated technology, and this focus will help the company continue to stand apart from its peers. 

New Corteva will nonetheless operate in an industry that will need to compete differently in the future. As such, it will continue its progress towards an optimized supply chain and have a laser focus on maximizing shareholder returns, operational excellence and the next generation of sustainable, differentiated innovation - including biologicals, the industry's fastest growing market segment. ​ 

As a scaled, standalone company, New Corteva's capital structure and targeted investment-grade credit rating will be tailored for a business model designed to support future capital needs and deliver consistent growth over time. Capital will be directed towards organic investment in differentiated solutions, innovation to bring advanced sustainable solutions to farmers, and disciplined M&A to expand market positions in attractive portfolios or geographies. 

New Corteva's partners will benefit from its focused, more optimized route to market. In addition, the company will be able to drive more effective channel management. New Corteva will also benefit from enhanced strategic flexibility, collaboration and partnership across the industry to drive efficiency and value. ​ 
 

Through a focus on returns, targeted investment and operational excellence, New Corteva will help farmers solve some of their toughest challenges and continue to lead the industry in crop protection. ​ 2025 net sales attributable to New Corteva are estimated to total $7.8 billion, representing 44 per cent of net sales for Corteva. 
 

SpinCo will deploy advanced genetics to discover and develop groundbreaking solutions that help farmers around the world improve yield, enhance sustainability and strengthen crop health. As home to the Pioneer brand, it will launch from a position of strength: Pioneer's century-long track record of advanced breeding, market leadership and financial strength is unmatched in the industry. ​SpinCo, a classic growth compounder, will also leverage other opportunities, including the strength of its regional anchor brands, including Dairyland Seed; its partnership with retailers through brands like Brevant; and growing presence in the out-licensing market. 
 

As a scaled standalone company, SpinCo will target an investment-grade rating, with capital allocation priorities tailored to its growth model. This will include targeted M&A, sustained investment in R&D and the fulfillment of existing opportunities: out-licensing, hybrid wheat, biofuels and gene editing. 

 

2025 net sales attributable to SpinCo are estimated to total $9.9 billion, representing 56 per cent of net sales for Corteva. 


 

Source:  Corteva October 1, 2025 news release