CEO and Chairman Breen,
We are writing to you on behalf of the Keep Your Promises campaign and the tens of thousands of mid-Ohio Valley residents who have been harmed by your company’s toxic chemical C-8. As CEO of DuPont, you are leading a corporation with significant legal and environmental obligations, including C-8, Benzene, at least 171 contaminated sites requiring remediation, drinking water infrastructure damage, toxic disposal sites, and more.
On top of these myriad issues, we now know that your failure to disclose liabilities connected to C-8 is graver than you have disclosed to your stakeholders.
It has recently come to public attention that another DuPont plant is the source of C-8 contamination in Dordrecht, Netherlands. This situation may be comparable to the contamination in the mid-Ohio Valley, and the costs for filtration, medical monitoring, and compensation of exposed individuals in Europe could be material.
As we have highlighted many times, DuPont’s statements regarding the magnitude of its exposure for these obligations masks the potential enormity of these liabilities, which we have to believe you are well aware of now that the extent of C-8 contamination in Europe is coming to light. Moreover, Chemours’ bleak financial outlook only serves to validate our concern that your attempt to offload billions of dollars worth of liabilities onto Chemours will ultimately fail. This became of further concern when Chemours directors and officers took out an additional special indemnification.
In light of the news of C-8 contamination in Dordrecht, your company’s failure to disclose and accrue for C-8 liabilities is profoundly disturbing.
We believe that you and your fellow DuPont directors’ fiduciary duties to all DuPont stakeholders, at a minimum, require you to ensure that DuPont properly accrues for these liabilities and provides transparency for all stakeholders.
Chairman Breen, moreover, you are responsible to the communities your company has harmed in the United States and abroad and to DuPont’s stakeholders. We expect that under your leadership, DuPont will fulfill the promises it made, and the fiduciary obligations it owes, to our communities and DuPont’s stakeholders.
Advisory Committee, Keep Your Promises DuPont