Corteva, one of the biggest names in agricultural technology, is about to get a lot smaller — and potentially a lot more powerful. This week, the company announced that it will split into two independent, publicly traded companies by the second half of 2026. The move, approved unanimously by its board, is pitched as a way to unlock shareholder value and give each side of the business sharper focus in a rapidly changing global agriculture market.
The split will create two new players: “New Corteva,” a crop protection powerhouse doubling down on operational excellence and cutting-edge solutions like biologicals, and “SpinCo,” a seed-focused business anchored by the iconic Pioneer brand and its century-long track record in advanced breeding and genetics. CEO Chuck Magro will take the reins of SpinCo, while current Chair Greg Page will lead New Corteva.
The logic is simple: seeds and crop protection are diverging businesses that now demand distinct strategies. “The seed and crop protection markets have evolved, and as a result, we see the opportunities ahead for both companies diverging – this is the right time to act to stay ahead of the market,” Magro said in the announcement.
For farmers, the split could mean faster innovation and more tailored solutions. New Corteva is promising next-generation sustainable technologies, especially in biologicals — one of agriculture’s fastest-growing sectors — and a streamlined supply chain designed to deliver results with greater efficiency. SpinCo, meanwhile, is positioning itself as an “unrivaled innovator” in seed, leaning on Pioneer’s deep roots in farmer loyalty while exploring new frontiers in hybrid wheat, biofuels, and gene editing.
For investors, the pitch is about growth and focus. Both companies will target investment-grade ratings and craft their own capital allocation strategies. New Corteva is projected to account for $7.8 billion in 2025 net sales, while SpinCo is expected to generate $9.9 billion. By untying the two businesses, Corteva says shareholders will gain access to “two compelling investment opportunities,” each with distinct growth profiles.
It’s also a statement about how the agriculture industry itself is changing. Seeds and crop protection have traditionally been bundled under one roof at major companies like Corteva, Bayer, and Syngenta. But as markets shift — with rising demand for plant-based protein, evolving climate pressures, and a global push for sustainability — companies are rethinking how to stay nimble. Corteva’s split echoes similar moves in other industries, where breaking apart has sometimes delivered better returns and faster innovation.
The transaction is structured to be tax-free for U.S. shareholders and is expected to close in the second half of 2026, pending regulatory approvals and other conditions. Until then, both businesses will continue under the Corteva umbrella, with a full management lineup to be announced later.
In the meantime, the company is sticking to its existing guidance, reaffirming its 2025 outlook and long-term value framework through 2027. An investor call was held Wednesday morning to walk through the details — and to convince Wall Street that two Cortevas are better than one.
