2. OUR VISION: To be the world’s most
dynamic science company, creating
sustainable solutions essential to a better,
safer, healthier life for people everywhere.
FRONT COVER PHOTOS:
DuPont™ SentryGlas® Expressions™ technology
brings more natural daylight and art into kindergarten.
Farmers planting Pioneer® brand corn hybrids won
22 of 27 categories in the 2003 National Corn
Growers Association Corn Yield Contest.
Analytical chemist Eva Frigge searches for ways to make
the clear topcoat of automotive finishes tougher.
The translucency of DuPont™ Corian® solid
surfaces was showcased at the International
Furniture Fair in Milan.
Limited combustible cable jacketed with DuPont™
Teflon® fluoropolymer makes LAN communications
systems and data centers safer.
3. T E F L O N ® F L U O R O P O LY M E R | T E F L O N ® N O N - S T I C K F I N I S H | T E F L O N ® FA B R I C P R O T E C T O R
| CORIAN® SOLID SURFACE | NOMEX® FIBER | KEVLAR® FIBER | TYVEK® PROTECTIVE
M AT E R I A L | P I O N E E R ® S E E D S | Q U A L I C O N ® M I C R O B I A L S O L U T I O N S | A L L Y ® H E R B I C I D E |
EXPRESS HERBICIDE | FINESSE HERBICIDE | GLEAN HERBICIDE |
® ® ®
HARMONY® HERBICIDE | CIMARRON® HERBICIDE | STEADFAST® H E R B I C I D E |
STAPLE HERBICIDE | AVAUNT INSECTICIDE | STEWARD INSECTICIDE
® ® ®
| VYDATE I N S E C T I C I D E / N E M AT I C I D E | TA N O S ® F U N G I C I D E | E X C E L O N ® F I R E
®
ANT BAIT | SOLAE SOY PRODUCTS | SURLYN RESIN | SENTRYGLAS
® ® ®
INTERLAYER | COOL2GO™ WRAP | TYNEX® FILAMENTS | HYTREL® ENGINEERING
P O L Y M E R | Z Y T E L ® N Y L O N R E S I N | D E L R I N ® A C E TA L R E S I N | N A S O N ® F I N I S H E S |
S TA N D O X ® F I N I S H E S | SPIES HECKER FINISHES | IMRON POLYURETHANE
® ®
ENAMEL | S U P R A S H I E L D ™ A U T O M O T I V E C L E A R C O AT | T I - P U R E T I TA N I U M
®
D I O X I D E | A R T I S T R I ™ I N K J E T P R I N T E R S | T Y C H E M ® P R O T E C T I V E M AT E R I A L |
ZODIAQ® QUARTZ SURFACE | KRYTOX LUBRICANTS | SOFTESSE MEDICAL
® ®
F A B R I C | SUPREL® MEDICAL FABRIC | ACTUREL® MEDICAL FABRIC | SONTARA®
W I P E S | S O N TA R A ® C L E A N I N G FA B R I C | D U P O N T ™ G A R D E N P R O D U C T S | O X O N E ®
P O O L A N D S PA O X I D I Z E R | V E R T R E L ® S P E C I A LT Y F L U I D S | S A F E R E T U R N S ® W O R K P L A C E
S A F E T Y P R O G R A M | Z O N Y L ® F L U O R O P O LY M E R | S U VA ® R E F R I G E R A N T S | F O R A F A C ® F I R E F I G H T I N G
F O A M | F O D E L ® M AT E R I A L S | K A P T O N ® P O LY I M I D E F I L M | P Y R A L U X ® F L E X I B L E C O M P O S I T E S
| R I S T O N ® D R Y F I L M P H O T O R E S I S T S | C Y R E L ® FA S T T E C H N O L O G Y | C R O M A L I N ® P R O O F I N G P R O D U C T S
4. DUPONT
CHAIRMAN’S MESSAGE
hroughout 2003 the ongoing
T The common denominator in every- needs will be six months, one year, or
transformation of DuPont thing we do is science. We have two years from now, and customers’
continued at a rapid and 20 global research and development answers provide direction for our
dramatic pace. We launched a “new” centers. We filed for 1,288 U.S. scientists and engineers.
DuPont, powered by science and patents in 2003, up more than 25
focused on growth. Our vision is to percent from 2002. A third of those We continue to capitalize on the
be the world’s most dynamic science were in biotechnology, the balance in power of our five growth platforms.
company, creating sustainable solutions chemistry and other areas of science. We are encouraged by the traction the
essential to a better, safer, healthier life In 2003, 29 percent of our sales growth platform concept has achieved
for people everywhere. We are intensely were from products less than five in terms of collaboration across our
focused on opportunities that can years old compared to 22 percent in businesses and creative solutions for
deliver results in 2004 and 2005 and 2000. Our 2005 goal is 33 percent our customers. And we are excited
help us achieve our goals of 6 percent and to maintain that into the future. about the impact that the growth
annual revenue growth and 10 percent platforms will have in the immediate
annual growth in earnings. The purpose of this discovery effort future. In 2003 each platform made
is a steady stream of new products a significant contribution to our
We made good progress last year. for our customers. Among recent increased revenue. Each platform is
Our sales grew by 12 percent in products resulting from our research demonstrating its ability to grow, to
2003, the biggest annual increase of projects are Zytel® HTN high compete and win globally, and to
the past 15 years. Some of this was performance polyamide resins, create opportunities in the near term.
the result of the change in value of HyperCure® primers for automobile
the U.S. dollar, but it was mainly refinish, Fodel® silver conductors for As pleased as we are with this
because of the hard work of DuPont plasma television screens, Steward® progress, there is still enormous
people earning customers’ trust and and Avaunt® insecticides, and new benefit to be gained from streamlining
integrating recent acquisitions. We composites and laminates for body and standardizing our processes and
have made more than 20 acquisitions armor that provides soldiers with by devoting more resources to new
in the past two years — nine in more protection at reduced weight. products and services and in emerging
countries with emerging economies. These are just a few examples of economies such as China and Central
As a group they contributed to how we offer customers the technical and Eastern Europe. We are now
earnings. The integration of these strength to answer their questions operating in a very different
new businesses has proceeded very and solve their problems. Our environment in terms of cost inputs.
effectively, and DuPont is a stronger marketing is “inbound.” We want As a result, we are placing increased
and more viable company as a result. to know what customer emphasis on margins and on
SELECTED ACQUISITIONS AND ALLIANCES 2002 & 2003
PLATFORM BUSINESS REGION
INNOVATION EXAMPLES: NEW PRODUCT COMMERCIALIZATIONS
Agriculture & Solae, LLC Global
PLATFORM PRODUCT
Nutrition Griffin, LLC U.S.
Shandong Denghai Pioneer China
Seed Company
Agriculture & Pioneer® Seeds
Nutrition Indoxacarb
Electronic & ChemFirst, Inc. Global
Improved soy flavor
Communication Merrimac Industries, Inc. U.S.
Technologies Photonics Technologies, LLC U.S.
Electronic & Plasma display panel conductors
Communication Cyrel®FAST
Safety & ChemFirst, Inc. U.S.
Technologies
Protection Atofina Fluorotelomers Europe
Antec International Europe
Safety & Clean & Disinfect
Protection Environmental solutions
Coatings & Color Renpar, S.A. S. America
New aramid sheet structures
Technologies DuPont Red Lion China
Coatings & Color Artistri™
Performance Eastman LCP and PCT U.S.
Technologies HyperCure™ clearcoat
Materials polymer business
Super High Solids clearcoat
Wuxi Xingda Nylon Co., Ltd. China
Performance SentryGlas® Plus
Materials Zytel® HTN
2|
5. distinguishing between commodity In 2003 we received our second With some of the most fundamental
products and products that can National Medal of Technology — changes in our 201-year history
support premium prices. Just as we the highest honor for technological moving toward completion, we are
began in 2002 to revitalize our R&D innovation in the United States. The more intent than ever on positioning
program, we are similarly beginning medal was presented to DuPont by DuPont for growth. We have talented
to strengthen our marketing and sales President Bush for technology and people, know-how across key markets,
competency across the company. policy leadership in the phaseout and and the strong science foundation
replacement of ozone-depleting necessary for success. We are going
We are also continuing our progress chlorofluorocarbons (CFCs). Earlier where the growth is in terms of
in productivity. Last year, DuPont Six in the year, the U.S. Environmental countries, markets and customers.
Sigma added more than $700 million Protection Agency presented its We want to leverage and focus the
in projects with hard, validated bene- Presidential Green Chemistry award entire power of DuPont so customers
fits for the company. This was a huge to DuPont for our innovation that experience one company, one brand,
accomplishment made possible by the uses corn instead of conventional and see the full range of offerings
nearly 17,000 employees who have petroleum-based processes to produce and services we can supply to them.
taken Six Sigma training. We currently our latest polymer platform. For
have more than 2,500 top-line growth the second year in a row, DuPont was The impact and challenge of
projects. Most of our projects to named Chemical Segment Leader on rapid change is felt most strongly
date have been focused on a specific the Dow Jones Sustainability Index. by DuPont employees, and I am
business or function. We are now grateful for their flexibility, creativity,
evolving to more enterprise-wide Late last year, we also announced and focus. With our customers,
projects and more “end-to-end” proj- a definitive agreement to sell our stockholders, and our many
ects that build our process capability. INVISTA™ to subsidiaries of friends around the world, we look
Koch Industries, Inc. The sale forward to sustainable growth in
At DuPont we speak on a daily basis represents a favorable outcome for the years ahead.
about our core values: safety and these businesses, which will now be
health, high ethical standards, able to realize their potential as part
environmental stewardship, and of a company fully committed to
respect for people. I want to emphasize them and the markets they serve.
specifically our commitment to safety We also announced that we will take
where we made strong and broad aggressive actions to ensure our global
improvements in our performance competitiveness as a more focused, Chad Holliday
last year. In particular our acquisitions science-based company following Chairman & CEO
made good progress. the separation of INVISTA™. March 1, 2004
DUPONT
DUPONT DUPONT ELECTRONIC &
AGRICULTURE COATINGS & COLOR COMMUNICATION
& NUTRITION TECHNOLOGIES TECHNOLOGIES
$5.5 B $5.5 B $2.9 B
President George W. Bush
presents the National
Medal of Technology to
DUPONT DUPONT
FIVE GROWTH DuPont. Chad Holliday
PERFORMANCE SAFETY &
P L AT F O R M S MATERIALS PROTECTION
accepts.
Large Opportunities $5.4 B $4.1 B
Strong Capabilities
Market Leadership
Sales figures for 2003.
|3
6. DUPONT
CORPORATE HIGHLIGHTS
(dollars in millions, except per share)
OPERATING RESULTS 2003 2002
Net Sales $26,996 $24,006
Income before Cumulative Effect of Changes in Accounting Principles $1,002 $1,841
Net Income (Loss) $973 $(1,103)
Depreciation and Amortization $1,584 $1,515
Capital Expenditures $1,784* $1,416
Research and Development Expenses $1,349 $1,264
FINANCIAL POSITION, YEAR END
Total Assets $37,039 $34,621
Net Debt** $7,106 $2,689
Stockholders’ Equity $9,781 $9,063
DATA PER COMMON SHARE
Income before Cumulative Effect of Changes in Accounting Principles $.99 $1.84
— Diluted
Net Income (Loss) — Diluted $.96 $(1.11)
Dividends $1.40 $1.40
Market Price Range $46.00-34.71 $49.80-35.02
OTHER TOTALS, YEAR END
Average Shares of Common Stock Outstanding (millions) 1,000 999
Employees (thousands) 81 79
* Includes $334 of assets purchased under the company’s synthetic lease programs
** Net Debt represents borrowings and capital lease obligations less cash and cash equivalents and marketable debt securities, including $189 of net debt from assets and liabilities held for sale at December 31, 2003
This publication contains forward-looking statements based on management’s current expectations, estimates and projections. All statements that address expectations or projections about the future, including
statements about the company’s strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements
may be identified by words like “expects,” “anticipates,” “plans,” “intends,” “projects,” “indicates,” and similar expressions. These statements are not guarantees of future performance and involve a number
of risks, uncertainties and assumptions. Many factors, including those discussed more fully in documents filed with the Securities and Exchange Commission by DuPont, particularly its latest annual report on
Form 10-K and quarterly report on Form 10-Q, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies
and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the company does business; competitive pressures; successful integration of structural
changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials, research and development of new products, including regulatory approval and market acceptance; and
4| seasonality of sales of agricultural products.
7. DUPONT
OUR COMPANY
DuPont is a science company. Our vision is to be the world’s most dynamic Below top to bottom: DuPont Mills
science company, creating sustainable solutions essential to a better, safer, in the 19th Century along the
healthier life for people everywhere. Brandywine Creek. Chemist
Julian Hill was on the team that
We are a company with a clear set of core values that guide everything we do: discovered nylon in the 1930s.
safety and health, high ethical standards, environmental stewardship, and At the DuPont Experimental
respect for people. Customers and consumers everywhere know DuPont through Station today, molecular geneticist
daily contact with such trusted brands as Kevlar®, Teflon®, Tyvek® and Corian® Pamela Sharpe works on a
and thousands of other products that touch every aspect of modern life. bacterium that consumes
methane, a greenhouse gas.
Founded in 1802 as an explosives company, our original product was black powder
for guns and blasting. By the end of our first century, DuPont was a leading
manufacturer of high explosives and had begun to move into chemical products.
In the 20th century DuPont became a global chemicals, materials and energy
company and deepened its commitment to scientific research. The company
marketed auto paints, moisture-proof cellophane, neoprene synthetic rubber,
safety glass, movie and x-ray films, Teflon® fluoropolymers and synthetic fibers
evolving from its landmark discovery of nylon.
In our third century of continuous operation, DuPont is a global science
company committed to achieving sustainable growth through three strategic
pathways: integrated science, knowledge intensity and productivity through
Six Sigma. With the anticipated separation of our traditional fibers businesses
from the company in 2004, DuPont is demonstrating yet again in its history of
transformations that it is prepared to go where the growth is in terms of
research, markets, customers and global presence.
The company’s array of products today indeed make life better, safer and
healthier. Pioneer® corn varieties are resistant to herbicides and insects.
DuPont™ Pyralux® and Microlux® flexible circuits go into cell phones and
laptop computers. DuPont™ SentryGlas® protects and beautifies high rise
buildings. Apparel of DuPont™ Tyvek® protective material helps workers
perform their jobs safely and efficiently. DuPont™ SupraShield™ premium
clearcoat protects automobiles from scratches, mars and other damage.
With our classical strength in chemistry and engineering, and our world-class
capability in biology, DuPont is the company customers come to whenever
science is the solution.
|5
8. DUPONT
AGRICULTURE & NUTRITION
Strategic Direction: Increase
the quality, quantity and safety
of the global food supply by
leveraging DuPont strengths in
biotechnology and our knowledge
of the food value chain.
Core Markets: Production
Agriculture; Food Processing.
2003 Revenue: $5.5 B
Strong Product Performance
Griffin Acquisition Broadens Continues at Pioneer
Crop Protection Strong product performance
DuPont growth in crop protection continues to drive growth around
specialty markets received a boost in the globe for DuPont subsidiary
2003 with the acquisition of Georgia- Pioneer Hi-Bred International, Inc.
based Griffin Corporation’s 50 percent In the United States, farmers
ownership interest in Griffin LLC, planting Pioneer® brand corn
thereby making DuPont the sole owner. hybrids won 22 of 27 categories in
With a product line especially strong the 2003 National Corn Growers
in cotton, fruit, vegetable and profes- Association Corn Yield Contest.
sional products, Griffin LLC markets To bring even more value to its
in more than 80 countries around customers, in 2003 Pioneer kicked
the world. The Griffin acquisition off the largest technology launch
gives DuPont five additional manu- in its history with 18 new soybean
facturing sites in North and South varieties and 74 new corn hybrids
America. that include exciting new options
to control pests and weeds.
6|
9. The global population grows by 200,000 daily. Rapacious insects and weeds confront productive farmland.
Deadly pathogens target processed food. In short, the world is full of challenges to its food supply. And, every
day, the people of DuPont Agriculture & Nutrition meet those challenges, working to assure that the food supply
is sustainable, safe and shielded from natural threats. From the farmer’s field, with products to fight weeds and
insects and seeds to boost farmers’ yields, to the processor’s plant, where technology detects dangerous
bacteria, DuPont continually strives to make sure the world’s food is abundant, nutritious and healthful.
BAX® System Adopted by USDA.
Brazil, Mexico and China Also
Approve.
The DuPont Qualicon BAX®
Spotlight on Science: System continued making the world’s
Venture Makes The Solae Samuel Dalmacio and Philippine food supply safer, gaining approval
Company a Major Player Researchers Fight Insect Damage by three of the globe’s most populous
DuPont joined forces with Bunge to Corn countries, as well as the United
Limited’s North American and Corn is the Philippines’ second States Department of Agriculture
European ingredients operations most important food crop. But it’s a (USDA). Brazil, Mexico and China
forming a venture that immediately vulnerable one, as the country also all approved the genetics-based
became a major player in the food nourishes a wide variety of ravaging screening method, which detects a
industry. The resulting majority- insects, including the Asiatic corn wide variety of pathogens in food,
owned entity had annual revenues in borer, armyworms and common environmental and carcass samples,
excess of $800 million in 2003. The cutworms. The corn borer is by far as well as E. coli bacteria in beef,
Solae Company focuses on plant- the most serious, causing yield loss poultry and pork. The USDA
based, specialty foods ingredients, rates of up to 80 percent. But the adopted BAX® to detect Salmonella
with a particular emphasis on lecithin corn borer could soon be the one in food plants that process meat and
and soy protein. 8th Continent™ losing, thanks to scientists like poultry. The automated system is
soymilk, which was launched in Philippine native Samuel Dalmacio, user friendly and fits easily onto the
2002 prior to the completion of a plant pathologist with Pioneer laboratory bench top, as shown here
the alliance, was joined in 2003 by Hi-Bred International, Inc. The at the SFDK food analysis laboratory
V-8 Splash® Smoothies, Nestlé® Pioneer research team in the in São Paulo, Brazil. Tableted PCR
SoyPlus and Snapple-A-Day™ as Philippines has made tremendous reagents, which minimize hands-on
branded products whose prime progress in introducing the latest, time and provide for long shelf-life
nutritional value derives from highly effective corn borer protection and consistency, help make the
Solae™ soy ingredients. The Solae into Pioneer® brand hybrids specifi- BAX® system easy, quick and
Company currently does business in cally adapted for the Philippines. cost-effective to use.
more than 80 countries worldwide,
serving more than 3,000 customers.
|7
10. DUPONT
COATINGS & COLOR
TECHNOLOGIES
Strategic Direction: Protect,
decorate and add functionality
to a wide variety of surfaces
and substrates by developing
and providing ingredients, inks,
coatings and color technologies.
Core Markets: Automotive;
Collision Repair; Paper; Industrial
Coatings; Digital Printing;
Architectural Coatings; Plastics.
2003 Revenue: $5.5 B
Shanghai Technical Service
Center Gives Customers
“One Stop” Convenience
In recognition of the ever-growing
importance of China as a market,
New Curing Technology Powers
DuPont Coatings & Color
Powder Coatings into Fresh CollisionMD Streamlines Repairs
Technologies opened a new techni-
Applications of Damaged Vehicles
cal service center in Shanghai in
2003. The 194,000-square-foot Powder coating has long provided Debuting a new consulting offering,
facility houses product R&D labs durable finishes. But the need to DuPont Performance Coatings takes
and manufacturing and warehousing bake powder coatings at high its years of vehicle finishing expertise
facilities. There’s also space for sales temperatures meant they simply into the body repair business.
and marketing and technical support weren’t practical for many products, CollisionMD uses web browser-based
personnel. The result is “one-stop” such as architectural finishes, office technologies to deliver a “start to
service for customers of DuPont™ furniture and bicycles. So DuPont finish” management system to handle
Ti-Pure® titanium dioxide products Performance Coatings introduced a the progression of collision-damaged
for coatings, plastic, paper and inks. new powder painting process with a vehicles through the repair process.
Opening of the Shanghai Center low curing temperature, opening up Body shops, insurance companies and,
coincided with the introduction of entire new markets. The process also ultimately, consumers will benefit
a new range of Ti-Pure® slurry allows a one-step application in a from the greater efficiencies
products — pre-dispersed pigments thick layer for improved efficiency, CollisionMD brings to body repair and
in solution form, specially designed plus a high curing speed. claims. Shown above taking a laptop
for the water-based emulsion paint “test drive” of the CollisionMD
market. The new products will be experience are (left to right) Nigel
manufactured at the Shanghai site. Glass, Fleet & Insurance manager,
Europe/MEA, DuPont Performance
Coatings Refinish Systems; and
David Jones, managing director,
Abbey Motors HH Limited.
8|
11. Ever-growing markets in the Asia Pacific region call out for more products, faster service. An automaker must
cut production time for popular truck models to meet consumer demand. Body shops and insurance companies
look for guidance in managing collision repairs and getting car owners back behind the wheel faster. DuPont
Coatings & Color Technologies responds. Opening a new technical service center in Shanghai. Developing a
new process that lays down two tones of truck paint in one pass through the paint booth. And creating a new
consulting enterprise that brings DuPont expertise to collision repair. All while earning the Clean Air Excellence
Award from the U.S. Environmental Protection Agency.
HyperCure™ Clearcoat is the
Clear Winner Spotlight on Science:
Automotive body shops need a fast Eva Frigge Keeps Auto Finishes
curing time for new finishes — Showroom New
Two-tone Paint Process Wins
but they know that the customer From the moment a car or truck
Ford World Excellence Award
demands a “like new” appearance. leaves the factory, its finish faces
And body shops get both with constant assault — from the sun, Ford Motor Company has enjoyed
DuPont™ HyperCure™ clearcoat flying gravel, road salt, air pollution rising demand for its two-tone F-250
finishes, the fastest-drying, baking and more. The only protection and F-350 heavy-duty pickup trucks.
and air-dry clears on the market. for the vehicle’s high gloss paint is But two passes through a paint booth
The production and marketing 35 to 55 micrometers of clear and oven dramatically increased
effort for HyperCure™ clearcoat topcoat. At the DuPont Herberts production time at the company’s
finishes was so outstanding that it Automotive Systems lab in Wuppertal, Kentucky truck plant. Then DuPont
garnered the annual Pinnacle Germany, analytical chemist Eva Frigge Herberts Automotive Systems, the
Award given by DuPont for mar- continually searches for ways to OEM unit of DuPont Performance
keting excellence. Fittingly enough, make that topcoat tougher. Her Coatings, developed a “one-pass”
the award was presented to the work led to the development of paint process. Using a special second
team that developed HyperCure™ DuPont™ ProTect Clear®, offering primer, the color accent coat is
by four-time NASCAR® Winston a new level of mar and etch resistance. applied over the wet prime layer while
Cup Champion Jeff Gordon By teaming with colleagues in the maintaining traditional chip and
(fourth from right), who really resin department, Eva specified a corrosion protection and durability
understands speed and cars. new binder for the clearcoat that characteristics. In April of 2003, Ford
raised hardness while retaining honored the painting breakthrough
polymer elasticity. with its World Excellence Award —
Recognition of Achievement. This
innovation also won the prestigious
Henry Ford Technology Award. |9
12. DUPONT
ELECTRONIC & COMMUNICATION
TECHNOLOGIES
Strategic Direction: Make
electronic and communication
devices faster, smaller and less
expensive via the strong materials
and technology base of DuPont.
Core Markets: Semiconductors;
Printed Circuit Boards and
Components; Communications;
Displays and Imaging.
2003 Revenue: $2.9 B
Flex Circuits Answer Call for
Fodel® Products Brighten Picture Lighter, More Sophisticated
for Plasma TVs Cell Phones Cyrel®FAST Digital System
Increases Efficiency,
In consumer electronics, plasma TVs The market demands smaller,
Protects Environment
have been the breakout product of lighter cell phones. But it wants
the past year. Using a plasma display those phones to display graphics Thirty years ago, DuPont introduced
panel (PDP) instead of a traditional and text with better resolution — the first photopolymer flexo plate,
bulky picture tube, big screen images in color. This requires placement marking a giant step forward
as large as 63 inches across can be of driver integrated circuits close in flexographic printing. The
displayed on units less than four to the liquid crystal display (LCD) introduction of the DuPont™
inches deep. DuPont was a team to get better refresh speeds and Cyrel®FAST digital flexographic
member from the start of resolution. But conventional platemaking system builds on this
development and has played a adhesive-based, copper-clad laminate legacy in a dramatic fashion, using
key role in bringing plasma TVs circuits are thick, not flexible, a solventless processing system. It’s
to market. Today most PDPs use require an additional connection good for the environment because
DuPont™ Fodel® photo-imaging and aren’t easily installed in small Cyrel®FAST eliminates chemical
products to produce the high cell phone cases. DuPont flexible handling and disposal and greatly
definition images across such large materials provide the solution with reduces water usage in the printing
screens. As the broadcast and cable DuPont™ Pyralux® AC all process. It’s also good for customers
industry increases high definition polyimide laminate, a single-sided because Cyrel®FAST delivers
programming, the appreciation construction of polyimide film on reduced cycle time, shorter make-
of the picture resolution made copper foil. Because it requires ready and greater press productivity.
possible by DuPont will become no adhesive, Pyralux® gives a Cyrel®FAST was given a Technical
even more important. 20 to 30 percent thinner circuit Innovation Award from the
profile and a lighter weight. Flexographic Technical Association
in 2003.
10|
13. Information flies around the world at an ever faster pace and volume, requiring ever-more sophisticated technologies to
carry the load. Miles of computer network cabling lie vulnerable to fire and smoke damage that can cripple communications.
The printing industry strives to lessen its dependence on chemical solvents. DuPont Electronic & Communication
Technologies provides the answers. DuPont-enabled circuitry makes communications mobile, driving cell phones and
laptops. Computer cabling jacketed with DuPont™ Teflon® resin prevents wiring from fueling office fires. DuPont™ Cyrel®FAST
revolutionizes printing with a solventless methodology. The demands placed on technology and communication increase
daily. DuPont Electronic & Communication Technologies answers those demands worldwide.
Spotlight on Science:
Wai Mun Lee Cleans the Chips
We All Depend On
Integrated circuits — IC chips —
ChemFirst Acquisition Accelerates are the tiny brains essential to the per-
Creation of IC Materials LCC Cabling Guards
formance of everything from personal
Communications Equipment...
When DuPont acquired ChemFirst, computers, cameras and refrigerators,
and Lives
Inc. and its two semiconductor to the airbag in your automobile and
fabrication businesses in late 2002, the countless other electronic Communications cabling is the nerve
the company’s reach into this critical appliances and digital equipment center of the modern office. But if
electronics sector immediately consumers use in daily life. To ensure fire breaks out, conventional cabling
increased. The company’s businesses performance and reliability, IC fab- can become deadly, emitting a thick,
that serve this market were fully ricators must completely remove the black oily smoke and serving as a
integrated in 2003 and now offer microscopic residues generated during major fuel source. To make LAN
an expanded portfolio of highly the manufacturing process. Research communications systems and data
engineered and differentiated materials Executive Wai Mun Lee revolutionized centers safer, DuPont developed
including Zyron® electronic gases, the cleaning of ICs with the limited combustible cable (LCC)
for advanced integrated circuit development of EKC PlasmaSolv® jacketed with DuPont™ Teflon®
manufacturing. Propelled by the cleaning technology enabling IC fluoropolymer. LCC with Teflon®
desires of businesses and consumers fabricators to reliably clean their most has considerably less potential for
to have smaller, faster and less advanced current and future designs. ignition, flame spread and smoke
expensive computers, cell phones This technology is widely adopted as generation. Fire tests at the British
and other electronics, DuPont the standard cleaning process by IC Research Establishment/Fire Research
will meet the need for ever-more manufacturers to clean their chips and Station in Bedford, England, showed
complex integrated circuits. keep a myriad of electronic devices that LCC produced virtually no smoke
operating smoothly and dependably. and would not self-sustain a flame. |11
15. The supply and environmental impact of fossil fuel consumption calls for new approaches to automotive engineering.
Architects and engineers strive to combine safety with aesthetics. Manufacturers look for durable, heat-and-oil-
resistant alternatives to metals. DuPont Performance Materials finds solutions. In 2003, DuPont provided materials
and knowledge to further the entry of hybrid electric vehicles into the marketplace. DuPont™ SentryGlas®
Expressions™ gave protective laminated glass a new level of design chic. And DuPont™ Zytel® HTN resins
offered strength and heat resistance for everything from stove knobs to automotive wheelcovers. All with the
high level of performance customers have come to expect from DuPont Performance Materials.
Spotlight on Science:
Driving Electric Vehicles into Donna Visioli Packages Solutions
the Mainstream for Grocers, Shoppers
Not long ago, the “electric car” Every grocery shopper knows manu-
Operations, Business Alliances
was the stuff of science fiction. facturers want to make packaging
Expand in China
But diminishing fossil fuel supplies eyecatching. But it’s even better when
and the need to improve air quality that packaging is both pleasing to DuPont Performance Materials grew
have made electric hybrid vehicles your eye and protects the products in China by nearly 30 percent in
(EHV) the stuff of fact. Toyota and your health. That’s what drives 2003. Spurred by the prospect of
and Honda sold 90,000 such the work of Donna Visioli, a senior continuing growth, DuPont began
cars worldwide in 2003. DuPont technical programs manager with construction on an expanded
Performance Materials DuPont Packaging Solutions. DuPont™ Zytel® nylon resin com-
is leading the way in this Donna and the Packaging Solutions pounding unit and a production unit
automotive evolution by providing team developed packages that for DuPont™ Bynel® and Appeel®
the materials critical to operating a securely seal fresh meat, while resins in Shenzhen. DuPont Hongji
vehicle with the 42-volt or higher allowing oxygen in, so the tempting Films Foshan Co. Ltd., a joint venture
electrical power plant. DuPont red color is preserved. Because such between DuPont Teijin Films China
offerings of crystalline engineering packaging cuts handling by grocers Ltd. and Foshan Plastics Group Co.
thermoplastics, along with and suppliers, it may help reduce Ltd., began production on a new thick
microcircuit materials, flexible the 76 million cases of foodborne film line in Foshan for the Chinese
circuit materials and performance illnesses the United States has domestic market. To meet ever grow-
coatings, are helping automakers annually. And another of Packaging ing commercial and consumer needs,
shed weight while increasing safety. Solutions breakthroughs is sure to Engineering Polymers and Wuxi
And as proof of the DuPont please “on-the-go” consumers. It’s Xingda Nylon Company announced
commitment to EHVs and their the DuPont™ Cool2Go™ insulated their intent to form a joint venture
benefits to the environment, the beverage label, which keeps drinks to produce and distribute filaments
company will add 20 hybrid vehicles cold up to twice as long as regular for toothbrushes, and paint, cosmetic
to its corporate fleet in 2004. cans and bottles. and industrial brush applications. |13
16. DUPONT
SAFETY & PROTECTION
Strategic Direction: Protect
people, property, operations and
the environment worldwide by
extending the company’s know-
ledge, technology and experience
to deliver solutions for a safer life.
Core Markets: Construction;
Manufacturing; Consumers;
Federal and Local Governments;
Medical; First Responders.
2003 Revenue: $4.1 B
Disaster Recovery Firm Gears
Up to Fight Against Mold Antec Acquisition Strengthens
Biosecurity Offerings
For homeowners and building
managers, no four-letter word creates Building on its demonstrated
Corian® Shines Brightly in Milan;
more fear than “mold.” In the past few expertise in protecting the global
Makes a Splash in Orlando
years, indoor mold contamination— environment from the threat of
and its financial and physical conse- disease, DuPont strengthened its Three internationally renowned
quences—has caught the attention biosecurity portfolio in 2003 designers opened up dramatic new
of the media, the public and the with the acquisition of Antec possibilities in “De-Lighted by
medical community. Overcoming that International. Antec products are Corian®,” a unique event at the
contamination is a primary service of a used worldwide to protect the food International Furniture Fair in Milan,
nationwide firm based in Fort Worth, supply from viruses such as Foot Italy, in April 2003. The translucency
Texas. BMS Catastrophe (BMS CAT) and Mouth Disease (FMD). And of DuPont™ Corian® solid surfaces
was formed in 1981 to restore build- in the winter of 2002-2003, Antec was showcased in a variety of ways,
ings following fires and floods. By was a leader in helping the cruise from James Irvine’s ergonomic
2003, however, more than 50 percent industry overcome the illness-causing circular bar where lights changed in
of the company’s business was devoted Norwalk-like virus. The acquisition unison, to Ross Lovegrove’s canyon-
to mold remediation. And because is the culmination of a 15-year like installation of multi-colored
of the potential harm that could be relationship, during which DuPont carved Corian®, to Marc Newson’s
caused to its employees by mold expo- was the supplier of the active “forest” of lamp sculptures (shown
sure, BMS CAT is devoted to using ingredient in many Antec products. above). As a whole, the exhibition
protective gear made of DuPont™ During the worldwide outbreak of explored the translucency of Corian®
Tyvek.® According to Charlie Cook, FMD in 2001, DuPont and Antec on a grand scale. And April 2003
BMS CAT Director of Environmental worked closely together to produce also saw the launch of Corian® Bas-
Remediation, “In order to perform additional supplies of Antec’s Relief panels at the Kitchen and Bath
our job safely and efficiently, we need Virkon® S and deliver them to Industry Show in Orlando, Florida.
to use a durable and reliable product. more than 100 nations facing the Now consumers can personalize their
We’ve found that DuPont™ Tyvek® devastation of their livestock. homes with backsplashes and vertical
is more durable and lighter in weight applications featuring Corian® with
than other products on the market.” unique textures and patterns.
14|
17. High velocity storms rampage through coastal regions. Emergency responders and military troops operate in
dangerous environments. DuPont Safety & Protection is there, in the field. Working against the deadliest byproduct
of tornadoes and hurricanes — airborne debris — DuPont Safety & Protection develops the StormRoom™, capable
of deflecting a 15-pound two-by-four. Around the globe, DuPont™ Kevlar® and Nomex® brand fibers help protect
police officers, firefighters and military personnel. And suits of DuPont™ Tyvek® guard skilled technicians as they
labor to free homes and offices from deadly mold. In a dangerous world, DuPont Safety & Protection is devoted to
shielding people and saving lives.
StormRoom™ with Kevlar® Debuts
as First Line of Home Defense
When a tornado strikes, the biggest
threat to human life isn’t the funnel
cloud itself — it’s the windborne
debris the cloud sucks up and throws
out as it spins across the countryside.
A two-by-four piece of building
DuPont Safety Resources Digs
timber from a damaged or destroyed
Spotlight on Science: Deep to Boost Mine Safety in
structure, when propelled by a
South Africa
tornado’s 250-mile-per-hour winds, Minshon Chiou Protects the
can hit with devastating force. To Officers Who Protect Us When South Africa’s mammoth
help people during these natural Protective vests are proven to Palabora copper mine began
disasters, DuPont Safety & save the lives of law enforcement transforming from an open-pit to
Protection developed the DuPont™ personnel. But only 55 percent an underground operation, a large
StormRoom™ with Kevlar®, a strap on their vests day-in-and- number of outside contractors were
residential in-home storm shelter. day-out, citing lack of comfort. brought in during construction —
The key to the strength of the Minshon Chiou is out to make contractors whose devotion to safety
StormRoom™ is the Kevlar® those officers more comfortable — did not equal Palabora’s own. The
sheathing that is inside reinforced wall and safer. At the Spruance site in result was a gradual spike in injuries,
panels. A series of tests conducted Richmond, Virginia, he develops especially among contractor personnel.
by an independent laboratory new safety and protection applications So the mining company turned to
showed that the storm room’s for DuPont™ Kevlar® brand fiber. DuPont Safety Resources (DSR) to
engineered panels could deflect a Minshon and his team have help inculcate a new culture of safety.
12-foot, 15-pound two-by-four developed DuPont™ Kevlar® Beginning in 1999, DSR audited
shot from a cannon. In new home Comfort XLT™ Technology, worker behavior, got employees
construction, the storm room can which will deliver markedly better involved in striving for a reduction in
easily be integrated into the overall ballistic performance enabling a injuries and helped Palabora launch a
design and even fitted with plumbing vest weight reduction of at least system of safety accreditation for
and electricity in addition to ventila- 25 percent. With lighter gear, outside contractors. By May 2003,
tion. Installed by an authorized officers in the future should put the injury frequency rate at the mine
building professional, the DuPont™ on their vests as often as they put was half of what it had been at the
StormRoom™ also can be added on their badges. start of DSR’s engagement, thanks to
to a new or existing garage with a the commitment of Palabora’s
slab concrete floor. managers, workers and contractors. |15
18. DUPONT
2003 HIGHLIGHTS
DuPont announced that it will
construct a $15 million corporate
A collaborative group led by research and development facility
DuPont and including scientists near Shanghai to support growth in
from the Massachusetts Institute of the Asia Pacific region. Globally,
Technology and the University of DuPont has more than 75 R&D
Illinois discovered a way to use facilities with more than 40 in the
DNA to sort carbon nanotubes. United States and more than 35 in
Carbon nanotubes possess 11 other nations. The Shanghai
excellent electrical properties R&D center will be the third major
that make them potential building research facility for DuPont outside
blocks in a broad range of the United States. The others are
nanotechnology-related electronic in Switzerland and Japan. The
applications, including medical Shanghai center will accommodate
diagnostic devices and mini- up to 200 scientists and will include
DuPont and the U.S. Department
transistors. When fabricated, laboratories, offices and high-ceiling
of Energy’s National Renewable
carbon nanotubes of different process bays for product application
Energy Laboratory (NREL)
electronic types randomly clump and development.
announced a joint research
together. The ability to sort and
agreement leading toward the
assemble carbon nanotubes
development of the world’s first
allows for uniform conductivity —
integrated “bio-refinery” that uses
enabling the applications to be
corn or other renewable resources
realized. This discovery was
— rather than traditional petro-
named one of the “Top 5 Nanotech
chemicals — to produce fuels and
Breakthroughs of 2003” by
value-added chemicals. DuPont
Forbes/Nanotech Report.
and the NREL will develop, build
and test a bio-refinery pilot
process that will make fuels and
chemicals from the entire corn
plant — including the fibrous
material in the stalks, husks, and
leaves, and the starchy material
in the kernels. D.S. Kim, president, DuPont
East Asia, participates
in a ceremonial ground-
breaking for the Shanghai
R&D center.
16|
19. DuPont was selected as a founding
partner of the Institute for Soldier
Nanotechnologies, which officially
opened its 28,000-square-foot
research and development facility
at the Massachusetts Institute of
Technology in May 2003. The insti-
tute will serve as the U.S. Army’s
DuPont announced that Finish center of expertise in the application
Line Technologies, the maker of
DuPont became a charter of nanotechnology to increase the
multi-purpose aerosol lubricants,
member of the Chicago Climate protection and survivability of
is the first licensee in a focused
Exchange, a voluntary cap-and- soldiers. DuPont participated in
effort to increase consumer
trade program for reducing and the initial proposal for the institute
preference for science-based
trading greenhouse gas emissions. and was selected as a founding
products sold under the DuPont
Members of the Chicago Climate industrial partner. DuPont is
brand. Consumer products sold
Exchange make a commitment exploring nanotechnology and
under the DuPont brand extend
to reduce their emissions of developing protective lightweight
the promise that DuPont science
greenhouse gases by 4 percent molecular materials to equip soldiers
and innovation help make lives
below the average of their of the future with uniforms and
better, easier and safer. The joint
1998-2001 baseline by 2006. gear that help protect them, shield
development of high-performance them and heal them in the field.
products between DuPont and
Finish Line is an example of the
DuPont approach to bringing
science and improved technology
to consumer markets. The new
DuPont lubricants offer a range of
attributes including self-cleaning
technology, superior corrosion
resistance and maximum water
repellency and lubrication efficiency.
|17
20. DUPONT
CORE VALUES
hroughout its history, prevention programs. Occupational consistent with the American
T DuPont has been guided by Hazards magazine named DuPont Chemistry Council’s Responsible
a well-defined set of core one of the safest industrial companies. Care® requirements.
values that have remained constant Almost half of the companies
as DuPont grew from its origins named to the list were customers E N V I R O N M E N TA L
as an explosives company to the of our Safety Resources business. STEWARDSHIP
global science company it is today. Year-over-year environmental
Safety and health, environmental While our total off-job lost day performance showed generally
stewardship, high ethical standards injuries improved year-over-year, small changes in waste and
and respectful treatment of people 10 employees lost their lives emissions as production rebound-
remain the values of DuPont. through tragic accidents away ed. Some increased — greenhouse
They are practiced everywhere the from work, mostly while driving gas emissions were up 2 percent.
company does business. All our automobiles and motorcycles. Others decreased — air carcino-
operations around the world are This is unacceptable and we gens were down 8 percent.
held to the same standards. increased our emphasis on Compared to our 1990 base year,
safe driving. Our incident global air carcinogens are down
performance (major safety, health 92 percent, global air toxics are
S A F E T Y A N D H E A LT H
During 2003, our safety and and environmental incidents) down 75 percent, global hazardous
health performance improved dropped from four in 2002 to three waste on a dry basis is down
overall with a double-digit reduction in 2003. 44 percent, and global greenhouse
in employee injury rates and gas emissions, on a CO2-equivalent
modest improvement in contractor The efforts to strengthen the basis, are down 67 percent. This
rates. We also continued to make security of our people, facilities, has been accomplished during a
significant progress in reducing distribution channels and period when production grew by
the incidence of soft tissue injuries information systems continued almost 30 percent.
through early detection and with self-assessments and upgrades
MAJOR SAFETY, HEALTH AND ENVIRONMENTAL INCIDENTS
50
45
40
35
30
25
20
15
10
5
0
1995 1996 1997 1998 1999 2000 2001 2002 2003
A major safety, health and environmental incident is a significant
fire, environmental, process or transportation incident.
18|
21. We continue to support the Our sources will include hydroelectric,
development of responsible public landfill gas, biomass and possibly
policy and market-based trading wind power. To encourage the
systems to encourage reduction in development of cost competitive
greenhouse gas emissions. In the renewable energy sources by energy
United States, we donated 44,000 providers, we have participated
metric tons of reductions from one of with the World Resources Institute’s
our U.S.-based manufacturing sites Green Power Market Development
to the Leonardo Academy’s Cleaner Group and will purchase about one
and GreenerSM program to be per- percent of global energy needs as
manently retired to help offset “green tags” generated from new
emissions associated with several biomass facilities.
conferences and meetings. We
became a charter member of the In 2003, we generated 15 percent of DuPont Taiwan sponsored the Kite
Chicago Climate Exchange and global revenues from non-depletable
Exhibition of the Flight Festival of
participated in its first auction. resources including agricultural
the National Science & Technology
feedstocks, technology, knowledge
Our total global energy use is now sales and service. Our goal is to Museum in Kaohsiung, Taiwan —
9 percent below our 1990 base achieve 25 percent by 2010. one of the largest science museums
with cumulative savings in the
in the Asia Pacific region. Taiwan
past 12 years of almost $2 billion. ETHICS
educational leaders use kites as
We have 2 percent of our global We are continually looking for
energy supply based on renewables ways to strengthen our ethics core an example of melding physics,
and expect to be at 5 percent by value, especially in light of society’s arts and crafts, and sports. Many
2005 and 10 percent by 2010. intensified scrutiny of corporate
of the kites used at the festival
governance and business practices.
were made of DuPont™ Tyvek®.
GLOBAL GREENHOUSE GAS EMISSIONS
250
200
150 The 2003 PriceWaterhouseCoopers/
Financial Times “World’s Most
100 Respected Companies” survey
ranked DuPont 9th globally in the
50 category of “Integrity.” One CEO
survey respondent cited DuPont
0 as “ethical, above board.”
1990 1996 1997 1998 1999 2000 2001 2002
Data indicate a 67% reduction of greenhouse gas emissions (Kyoto
basket of gases) on a billion-pound basis since 1990, surpassing the
DuPont goal to achieve a 65% reduction (Kyoto basis) by the year 2010.
|19
22. Above left: To give children a taste
We strengthened our commitment RESPECT FOR PEOPLE
of life as a first responder, DuPont
to openness and transparency and Respectful treatment of people has
worked with police officers, fire- now have financial, societal and been central to the culture of
environmental data reported DuPont since the founding of the
fighters and emergency medical
according to the Global Reporting company. This extends not only to
technicians in five cities to mount
Initiative. We also introduced employees, but to all people. For
the DuPont Search for Tomorrow’s
LegalEagleSM, a new online training example, in 2003, we adopted
Heroes competition. In the program to enhance our employees’ corporate policies regarding child
understanding and awareness of and forced labor. These policies are
competition, the children had a
legal issues and business conduct global requirements for all DuPont
chance to wear child-sized
concerns. operations and suppliers.
versions of protective gear made
from DuPont™ Kevlar® and We continue to engage and seek We ran a successful pilot in
advice and counsel from leaders Mexico to identify business
DuPont™ Nomex brand fibers.
®
around the world. We have projects to meet important needs
completed four years with our in the middle and bottom of the
Above right: To support its ongoing
Biotechnology Advisory Panel. economic population, and plan to
commitment to education, DuPont With its assistance, we recently have extend this process to Asia and
developed a set of bio-ethics prin- South America in 2004. We also
provided school supplies to more
ciples to guide our development agreed to fund a three-year project
than 9,000 students entering the
and commercialization of new with A Harvest Foundation in
first grade in a Delaware public
products. In addition, we have ini- Africa to help lift about 10,000
school in September 2003. Each tiated a Health Advisory Board to families out of poverty through
help us shape our growth training in sustainable farming
student received a backpack
plans in the huge and diverse methods.
containing a pencil case, pencils,
health care field. Our manufacturing
scissors, crayons, a glue stick,
sites around the world continue
composition book and an eraser. with their decade-long practice of
community interaction and advisory
panels, and DuPont Canada initiated
a Sustainable Growth Advisory
Panel this year.
20|
23. Below left: The Okefenokee
DUPONT LAND LEGACY
swamp in Georgia is an ecological
DuPont has been a property owner since 1802, when company founder E.I. du Pont
treasure of global importance
bought 65 acres of land for his black powder mills on the banks of the Brandywine
with world-class wetlands and
River in Delaware.
magnificent forestland.
During the more than two centuries of continuous operations that followed, the
Below right: DuPont State Forest
company acquired tens of thousands of acres more on which to site its plants
in North Carolina contains four
and offices around the world. Through the years, significant parcels in the
major waterfalls on the Little River,
company’s holdings went undeveloped or remained in the company’s possession
and several smaller waterfalls on
after the company ceased operations on or near them. Left undisturbed, many
the Grassy Creek.
thousands of acres became prime natural areas and exceptional candidates for
preservation. In 1994, DuPont formally instituted the DuPont Land Legacy
Program to review these properties and recommend which should be protected.
Since its inception, DuPont Land Legacy has permanently protected nearly 34,000
acres of land. Some of the company’s most significant land donations include the
1,000-acre Willow Grove Lake site donated in 1994 to The Nature Conservancy of
New Jersey and 7,700 acres of forest near Brevard in western North Carolina
donated in 1996 to The Conservation Fund and now part of DuPont State Forest.
In 2003 DuPont donated nearly 16,000 acres of company-owned land adjacent
to the Okefenokee National Wildlife Refuge in the state of Georgia to The
Conservation Fund. DuPont acquired the land in 1991 and 1996 with the intent
to mine titanium ore safely and in an environmentally sound manner from the
site. In light of public concerns about the project, DuPont announced in 1997
that it would defer activities related to the proposed surface mining operation
and explore options for the property.
DuPont established a Collaborative
Process Core Group of local community
officials; local NGOs; landowners; mining,
tourism and wood fiber interests; elected
officials and Native Americans. The
donation represented a culmination of
that process and a cooperative effort
among DuPont, The Conservation Fund
and International Paper.
|21
24. DUPONT
BOARD OF DIRECTORS
Charles O. Holliday, Jr.
CHARLES O. HOLLIDAY, JR. Audit Committee
Charles M. Vest (Chair)
Chairman of the Board and Chief Executive
Curtis J. Crawford
Officer
Deborah C. Hopkins
H. Rodney Sharp, III
ALAIN J. P. BELDA
Chairman and Chief Executive Officer,
Alcoa Inc. (producer of aluminum and alumina) Compensation Committee
Lois D. Juliber (Chair)
Alain J. P. Belda Lois D. Juliber
RICHARD H. BROWN Alain J. P. Belda
H. Rodney Sharp, III
CURTIS J. CRAWFORD
President and Chief Executive Officer, Corporate Governance Committee
XCEO, Inc. (consulting services) Curtis J. Crawford (Chair)
Edward B. du Pont
LOUISA C. DUEMLING William K. Reilly
EDWARD B. DU PONT Environmental Policy Committee
Richard H. Brown Göran Lindahl
William K. Reilly (Chair)
DEBORAH C. HOPKINS Louisa C. Duemling
Chief Operations and Technology Officer,
Göran Lindahl
Citigroup, Inc. (diversified financial
Masahisa Naitoh
services company)
Strategic Direction Committee
LOIS D. JULIBER
Charles O. Holliday, Jr. (Chair)
Chief Operating Officer, Colgate-Palmolive
Alain J. P. Belda
Company (consumer products company)
Curtis J. Crawford Masahisa Naitoh
Richard H. Brown
Lois D. Juliber
GÖRAN LINDAHL
Göran Lindahl
Co-Chairman, Nanomix, Inc. (a developer
of products made from nanoscale materials
Louise B. Lancaster
and components)
Director — Corporate Governance,
Corporate Secretary, Secretary to
MASAHISA NAITOH
Corporate Governance, Environmental
Chairman and Chief Executive Officer,
Policy and Strategic Direction Committees
Louisa C. Duemling William K. Reilly The Institute of Energy Economics, Japan
Mary E. Bowler
WILLIAM K. REILLY
Calissa W. Brown
President and Chief Executive Officer, Aqua
Steve C. Cozamanis
International Partners, LP (finances water
Donald P. McAviney
supply and wastewater treatment in
Peter C. Mester
developing countries); Former Administrator,
Assistant Secretaries
U.S. Environmental Protection Agency
Edward B. du Pont H. Rodney Sharp, III Veronica A. Demurat
H. RODNEY SHARP, III
Assistant Secretary, Secretary to Audit and
CHARLES M. VEST Compensation Committees
President, Massachusetts Institute
of Technology
22| Deborah C. Hopkins Charles M. Vest