DuPont CEO Kullman retiring effective Oct. 16

DOVER, Del. -- The DuPont Co. has announced the sudden retirement of Ellen Kullman as chairwoman and CEO.

The company said Kullman, 59, will step down at the end of next week.

Edward Breen, a DuPont board member, will serve as Kullman's interim replacement.

DuPont also downgraded its operating earnings outlook on Monday, saying it now expects operating earnings per share for the full year of about $2.75, compared with prior guidance of $3.10.

The company said the revised outlook primarily reflects continued strengthening of the U.S. dollar versus currencies in emerging markets, particularly in Brazil, and a further weakening of agricultural markets, primarily in Brazil.

The company now expects second-half operating earnings per share of about 40 cents, down from its prior guidance of 75 cents.

DuPont shares rallied in extended trading.