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Industrial Biosciences will integrate Danisco's Genencor enzyme division with the DuPont Applied BioSciences business to create a leading $1 billion industrial bioscience business. This unit will stand alone as a financial reporting segment.
Meanwhile, Nutritional & Health will combine Danisco Food Ingredients with DuPont's existing Nutrition & Health business to form a premier $3 billion specialty food ingredients and food safety business. Nutrition & Health also will stand alone as a financial reporting segment.
Additional details on both reporting segments will be provided when DuPont reports second quarter earnings in late July.
As a result of this reorganization, the Wilmington, Del., company appointed Craig Binetti as the president of the new Nutrition & Health business. Binetti has led DuPont's Nutrition & Health business since 2007, and has led several businesses during his 34-year career with DuPont, including serving as chairman and CEO of Solae, the company's soy protein joint venture with Bunge.
James Collins, Jr. has been named president of Industrial Biosciences. Collins has served in a range of business and operations leadership roles at DuPont, with a strong background in agriculture. He led DuPont's Crop Protection business from 2004-11. Since January, Collins has led the integration team preparing for DuPont's acquisition of Danisco.
Richard Olson will assume responsibility for ongoing integration of Danisco across both new businesses units. Olson leads the company's productivity improvement and business process simplification programs across the company. He has served in a range of business and operations leadership roles since joining the company as a process engineer in 1978. Before assuming his current role earlier this year, Olson led the Titanium Technologies business.