Chemical maker DuPont on Friday said its board of directors named CEO Ellen Kullman to the position of chair, effective Dec. 31, according to Associated Press.
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Kullman, 53, will replace Charles Holliday, 61, who will retire from the board after 11 years as its chairman.
Kullman has served as CEO of DuPont since Jan. 1, after Holliday had served in that role for 10 years. He continues as chair of DuPont and as a member of the board for a brief transition until Kullman's expected succession as chair.
Shares of the company fell 60 cents to $32.37 in morning trading.
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