DuPont streamlines business

       DuPont said on Thursday its finance chief would take on a new position and its operating chief would retire as the US chemicals maker consolidates 23 of its businesses into 14.
       Jeffrey Keefer will leave the CFO post on Oct 31 to oversee DuPont's costcontrol efforts and performance coatings business. COO Richard Goodmanson will retire on Sept 30.
       A new CFO has yet to be named.Instead of hiring a new COO, the company will split that position's responsibilities between Keefer, the new CFO and chief executive Ellen Kullman.
       They are the first major changes at the Wilmington, Delaware-based company since Kullman joined in January.
       "The new corporate structure will help DuPont meet the economic recovery as a stronger, faster and more agile global competitor," Kullman said in a statement.
       The realignment comes as consumers buy fewer products made using chemicals, such as plastics, clothes and cars.That has hurt earnings at DuPont and industry peers.
       DuPont had previously partitioned its 23 businesses into five categories.Those categories will disappear, giving each of the 14 remaining business units more autonomy and responsibility.
       In practice, the businesses will work under a similar structure as before.
       For example, while DuPont's agriculture businesses will cease to function as one unit, the company's Pioneer, crop protection, and nutrition and health busi-nesses will still report to James Borel,who was promoted to vice president.
       And while the number of businesses will be cut to 14, and the five main business units will disappear, the number of categories in which DuPont reports its financial results will rise to seven from five.
       The consolidation's costs are included in a $340 million restructuring charge that the company booked in the second quarter. DuPont does not expect additional charges from the consolidation.
       In May, Dupont said it would eliminate 2,000 jobs as part of a cost-cutting plan.Dupont has reduced employment by more than 8%, or 4,500 jobs, during the last year, in addition to laying off about 10,000 contract workers.