DowDuPont CEO Ed Breen says he prefers small, short-term R&D projects that quickly yield marketable products to moonshots that are risky and more expensive.
Breen took over as DuPont CEO in November 2015 and quickly inked an agreement to merge with Dow Chemical. At the Bernstein Strategic Decisions Conference in New York City on May 31, Breen discussed his company’s R&D strategy.
Breen said that he scaled back ambitious projects as soon as he was in charge at DuPont. “When I got to the company, we killed almost all of what I’d call the moonshot projects,” he said. “And, by the way, the moonshots cost the most money. I didn’t feel comfortable with most of them.”
...Additionally, in late 2015, Breen recast DuPont’s Central R&D organization, famous in the chemical industry for its devotion to long-term projects, into a smaller organization, Science & Innovation.Short-term profits first! I look forward to looking at his track record 5 or 10 years from now...