Indianapolis, IN (WOWO): Indianapolis-based agricultural giant Corteva is making a major move. The company announced Wednesday it will split into two independent, publicly traded companies—one focused on seeds, the other on crop protection products like pesticides and herbicides.

According to Inside Indiana Business, the decision was unanimously approved by Corteva’s board of directors and is expected to be completed in the second half of 2026. The move creates two new entities: “New Corteva,” which will oversee the crop protection business, and “SpinCo,” which will handle the seed division.

Company leadership says the split will allow each business to focus on its own strengths, accelerate innovation, and better serve farmers across the globe.

“This separation will unleash two distinct market leaders, both farmer-centric, both with technology and innovation at their core,” the company said in a statement.

Corteva brought in nearly $17 billion in revenue last year and ranks as one of Indiana’s largest publicly traded companies. Roughly 1,500 of its 22,000 global employees work at the Zionsville Road headquarters on Indianapolis’ northwest side.

Chuck Magro, the current CEO of Corteva, will lead SpinCo, while Chair Greg Page will take on the same role at New Corteva. More leadership details are expected to be released in the coming months.

The company says this move positions both businesses to grow faster, streamline operations, and deliver more value to shareholders and customers.