Corteva to Separate Crop Protection and Seed Businesses into Two Public Companies by 2026

03 October 2025, Indianapolis: Corteva AgriScience has announced that its Board of Directors has unanimously approved a plan to separate the company into two independent, publicly traded companies by the second half of 2026. The move will create one company dedicated to its Crop Protection business, to be called New Corteva, and another centered on its Seed business, which will be known as SpinCo.

The company said the separation is designed to unlock value by creating two farmer-centric leaders, both grounded in technology and innovation, but with distinct strategies, capital allocation priorities, and growth models. Corteva reaffirmed its full-year 2025 guidance and confirmed that its 2027 value framework remains intact.

Under the plan, Greg Page, currently Chair of Corteva, will assume the role of Chair of New Corteva, while Chuck Magro, the company’s CEO, will take on the position of CEO of SpinCo. Full board and management teams for both businesses will be announced at a later stage, followed by other key updates. Corteva will host an investor call on October 1 at 8:30 AM EDT to provide further details.

Chuck Magro: Positioning Both Businesses to Win

Corteva’s Chief Executive Officer, Chuck Magro, said the decision marks a natural evolution of the company’s growth strategy. “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,” he explained.

Magro emphasized that market conditions have shifted, making this the right time to act. “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.”

New Corteva: Crop Protection Leadership and Biologicals

The company’s Crop Protection business will move forward as New Corteva, designed to be a global leader in differentiated agricultural solutions. With a focus on efficiency, supply chain optimization, and sustainability, New Corteva will prioritize operational excellence and shareholder returns. The business will place particular emphasis on biologicals, one of the fastest-growing market segments in agriculture, while continuing to invest in differentiated crop protection technologies.

As a standalone business, New Corteva’s capital structure will be aligned to support future capital needs, with resources directed toward organic growth, advanced innovation, and disciplined mergers and acquisitions. The company will also enhance its ability to collaborate with industry partners and drive stronger channel management.

Corteva projected that net sales attributable to New Corteva in 2025 will total $7.8 billion, which represents 44 percent of the company’s overall sales.

SpinCo: Seed Innovation and Advanced Genetics

The Seed business, to be spun off as SpinCo, will enter the market from a position of strength built upon a century of innovation under the Pioneer® brand. The company said SpinCo will continue to deploy advanced genetics to develop solutions that help farmers improve yields, enhance sustainability, and strengthen crop health.

In addition to Pioneer, SpinCo will benefit from the strength of its regional anchor brands such as Dairyland Seed®, its retailer-focused Brevant® brand, and a growing out-licensing business. The company will also expand into future-focused areas such as hybrid wheat, biofuels, and gene editing, supported by sustained investment in research and development.

As a scaled, standalone entity, SpinCo will be structured for growth with tailored capital allocation priorities, including targeted M&A opportunities. Corteva projected that SpinCo’s 2025 net sales will total $9.9 billion, representing 56 percent of overall Corteva sales.

Transaction Timeline and Conditions

The separation will be carried out through a spin-off of SpinCo, which is intended to qualify as a tax-free transaction for U.S. federal tax purposes for Corteva shareholders.

The transaction is expected to close in the second half of 2026, subject to several conditions. These include final approval by Corteva’s Board of Directors, a favorable legal opinion on the tax-free nature of the deal, and the effectiveness of a Form 10 registration statement to be filed with the U.S. Securities and Exchange Commission. The company noted that it retains the right to modify the terms of the separation or abandon it altogether if required.

Corteva stressed that the move is designed to strengthen both businesses by providing them with sharper strategic focus, the flexibility to invest in their respective growth opportunities, and the agility to adapt to market dynamics. For farmers and shareholders alike, the company positioned the separation as a step toward long-term innovation, leadership, and value creation in global agriculture.

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