DuPont announces Matthew Harbaugh as CFO of Qnity Electronics spin-off

DuPont (DD) announced Qnity Electronics, as the name of the planned independent Electronics public company that will be created through the intended spin-off of its Electronics business. As a pure-play electronics materials company, Qnity will be one of the largest and broadest solutions providers to the semiconductor and electronics industries enabling advanced computing, smart technologies and connectivity. DuPont also announced that Matthew Harbaugh will join the company effective May 1, and will be the CFO of Qnity. Harbaugh brings more than 25 years of experience in finance, strategy, and operations management. He most recently served as CFO of Vantive, the planned spin-off from Baxter prior to its sale to Carlyle. He previously served as CFO at NuVasive and Mallinckrodt, both publicly traded companies. During his tenure at Mallinckrodt, a company that he helped spin-off from Covidien, he oversaw the company’s accounting, treasury and tax functions, as well as information technology, procurement and facilities. Early in his career, Mr. Harbaugh held various finance roles with increasing responsibility first at Monsanto and then Covidien. Chuck Xu, currently Vice President in DuPont’s ElectronicsCo division, will continue to lead Interconnect Solutions. Sang Ho Kang, currently Vice President in DuPont’s ElectronicsCo division, will continue to lead Semiconductor Technologies. Peter Hennessey, as General Counsel; Hennessey is currently Associate General Counsel and DuPont Corporate Secretary. Kathleen Fortebuono, as Chief Human Resources Officer; Fortebuono is currently DuPont Vice President, Global Rewards, and HR M&A. Additionally, DuPont announced that Michael Stubblefield has decided not to assume the role of chairperson of the future Electronics Board of Directors. This decision will allow Stubblefield to focus on fully supporting Avantor’s transition to a new CEO. A new board member for the future independent Electronics public company and the future chairperson will be named at a later date.