DuPont Names Chairman of Drug Unit

DuPont Co. named Richard De Schutter, former head of Monsanto Co.’s drug unit, nonexecutive chairman of DuPont’s pharmaceuticals business. De Schutter, 60, had been chairman and chief executive of Monsanto’s G.D. Searle & Co. unit until last July, when he was named director, vice chairman and chief administrative officer of Monsanto. Monsanto recently merged with Pharmacia & Upjohn Inc. to form Pharmacia Corp., and De Schutter retired from his duties as director and chief administrative officer at Pharmacia last week. DuPont recently shook up top management in its drug business after setbacks in its plans to beef up the unit through alliances in the consolidating drug industry. In May, Kurt Landgraf, who had been chairman and chief executive of the unit for four months, resigned after failing to find a major partner to expand the business. De Schutter won’t have responsibility for running day-to-day operations of the drug unit, a DuPont spokesman said. DuPont shares rose 6 cents to close at $45.06 on the NYSE.

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