Corteva to Spin Seed Unit Vylor in 1-for-1 Split
The agriculture technology company will hand shareholders one Vylor share for each Corteva share as it splits crop protection from seed.
Corteva (CTVA) said its board approved the previously announced separation of the company into two independent, publicly traded businesses, with the seed operating segment to become Vylor Inc. and the remaining crop protection franchise to stay under the Corteva name.
Shareholders will receive one share of Vylor common stock for every share of Corteva common stock. The company said the spin is expected to close before 9:30 a.m. New York City time on October 1, 2026.
The move completes a plan first laid out in October 2025, when Corteva’s board unanimously approved splitting the global agriculture technology company into a crop protection company and a seed company. At that time, the company described the transaction as tax-free and expected it in the second half of 2026, and it reaffirmed full-year 2025 guidance and a 2027 value framework.
Greg Page, then Corteva chair, was to become chair of the crop protection company. Chuck Magro, then Corteva chief executive, was to become chief executive of the seed company.
In June 2026, Corteva named the intended boards for both entities. Page was set to lead a nine-person board at the standalone crop protection company, with Luke Kissam to join as future chief executive. For Vylor, Karen Grimes was named independent chair of a seven-director board, with Magro listed as future chief executive. A search was ongoing for at least one additional Vylor director.
Grimes said Vylor would be dedicated to leveraging expertise in advanced seed and genetics to help farmers feed and fuel the world. Corteva said Vylor’s innovation engine would be anchored in elite germplasm and biotech, including gene editing and molecular breeding, with a plan to expand licensing and explore new row crops.
In August, Vylor commenced private exchange offers and consent solicitations covering EIDP senior notes due 2030, 2032, and 2033, conditioned on consummation of the separation.
The October 1 close date falls in the fourth quarter of 2026, the window Corteva had already flagged for the split.