Corteva completes separation of seed business into independent Vylor
Corteva completed the spin-off of its seed segment into Vylor Inc. on October 1, 2026, distributing shares to stockholders and naming Luther Kissam as Chief Executive Officer.
What happened
At 12:03 a.m., New York City time, on October 1, 2026, Corteva completed its previously announced separation into two independent, publicly traded companies. This transaction was achieved through the separation of its seed operating segment into Vylor Inc. The separation was effected through a pro rata distribution of all outstanding shares of Vylor common stock to Corteva stockholders of record as of the close of business on September 24, 2026.
Vylor common stock commenced regular-way trading on the New York Stock Exchange under the ticker symbol 'VYLR' on October 1, 2026. In connection with the separation, Corteva also installed new executive leadership. Luther ('Luke') Kissam was appointed Chief Executive Officer, Jeff Rudolph became Chief Financial Officer, Brook Cunningham was appointed Chief Commercial Officer, and Ralph Ford took the role of Chief Integrated Operations Officer.
Leadership reshuffle and formal agreements establish two distinct entities
Several key executives stepped down from Corteva at the Effective Time of the corporate separation. Charles V. Magro, David P. Johnson, Samuel R. Eathington, Ph.D., and Judd M. O'Connor resigned from their positions as officers of Corteva. In addition, Charles V. Magro, Kerry J. Preete, Marcos M. Lutz, and Karen H. Grimes resigned from the Board of Directors, with Corteva confirming these departures did not result from any disagreement relating to operations, policies, or practices.
To formalize the division, Corteva, Vylor, and EIDP, Inc. entered into a Separation and Distribution Agreement on September 29, 2026. On October 1, 2026, the parties entered into additional agreements governing Tax Matters, Employee Matters, Reverse Transition Services, Intellectual Property Matters, and a Global Master Seed Treatment Supply Agreement.
These legal contracts define how shared operations, intellectual property, and transitional services will function between both businesses. By finalizing these terms, Corteva and Vylor have established the operational framework necessary to operate as independent entities while maintaining commercial ties in seed treatments.
