Gregory R. Page

About Gregory R. Page

Gregory R. Page, age 73, is an independent director and the Chair of Corteva’s Board. He is the retired Chairman and Chief Executive Officer of Cargill, Incorporated, and has served on Corteva’s Board since June 2019. He sits on the Audit Committee (designated an “audit committee financial expert”) and the Governance & Compliance Committee. His core credentials include global agriculture leadership, commodity markets expertise, financial systems and succession management experience, and deep board governance acumen.

Past Roles

External Roles

Board Governance

• Independence and leadership: Page is an independent director serving as Board Chair; if a Chair were not independent, the guidelines require a Lead Independent Director. Executive sessions of independent directors occur with each regularly scheduled Board meeting and are chaired by the Board Chair.
• Committees: Page serves on Audit and Governance & Compliance. The Board designates Page, Ward, and Grimes as “audit committee financial experts.”
• Meetings and attendance: In 2024, the Board met 8 times; Audit 10, People & Compensation 7, Governance & Compliance 5, Sustainability & Innovation 5. All directors attended >75% of aggregate Board and committee meetings and attended the 2024 Annual Meeting.
• Outside directorship limits: Non-executive public company directors may serve on up to four boards; the proxy notes Page and Everitt each serve on three other public boards and maintained strong aggregate attendance (~96% Page; ~90% Everitt) in 2024.
• Audit Committee report: Confirms Audit Committee independence and responsibilities, and includes Page as a member.

Fixed Compensation

• Non-employee director fee structure (2024): Cash retainer $130,000; equity retainer $170,000; total $300,000. Board Chair additional cash retainer $80,000; Board Chair equity retainer $120,000; total Chair retainer $200,000. Committee chair fees: Audit $35,000; other committees $25,000.

• 2024 compensation for Gregory R. Page: | Component | Amount ($) | |---|---| | Fees Earned or Paid in Cash | 212,759 | | Stock Awards (grant-date fair value) | 290,527 | | All Other Compensation (insurance premiums) | 300 | | Total | 503,586 |

• Annual RSU grants (Apr 26, 2024): All non-employee directors received 3,100 RSUs; as Board Chair, Page received 5,290 RSUs (equity portion of Chair fee plus director equity retainer). Grant-date fair value used for accounting: $54.92 per share; standard director grant value $170,252; Page’s total RSU value $290,527. RSUs vest on first anniversary of grant date.

• Vesting policy evolution: RSUs granted 2019–2021 vest upon retirement; beginning in 2022, RSUs vest on first anniversary.

Performance Compensation

• Non-employee directors at Corteva do not receive performance-based equity (e.g., PSUs tied to metrics) or options as part of standard director compensation; equity is provided as RSUs with time-based vesting.

Other Directorships & Interlocks

• Current public company boards: Eaton (Lead Independent Director, director since 2003); Deere (since 2013); 3M (since 2016).
• Compensation peer group overlap: Corteva’s executive compensation peer group includes Deere & Company and 3M Company, creating informational interlocks. The People & Compensation Committee retains independent consultant Frederic W. Cook & Co. (“Cook”) and controls peer benchmarking. Page is not on the People & Compensation Committee.

Expertise & Qualifications

• Skills include: global agriculture leadership; commodity markets; financial systems; succession management; strategic oversight; governance.
• Audit committee financial expertise designation under SEC rules.

Equity Ownership

• Ownership guidelines: Non-employee directors must hold equity equal to 5x their annual cash retainer within five years; must hold all equity compensation until meeting guidelines. As of Dec 31, 2024, directors were in compliance or anticipated to reach guidelines within the timeframe. Hedging and pledging of Corteva securities by executives and directors is prohibited. Deferred compensation is available (fees may be deferred into cash or stock units; dividend equivalents accrue on stock units).

Shareholder Voting Signals

• 2025 Director election outcome (Apr 30, 2025 Annual Meeting): Gregory R. Page received 531,924,701 For; 19,676,666 Against; 1,546,069 Abstain; 55,142,670 broker non-votes.
• Say-on-pay results: Approximately 95% support in prior year (2024), indicating strong investor endorsement of compensation governance; 2025 advisory vote results: 488,400,627 For; 62,848,809 Against; 1,898,000 Abstain; 55,142,670 broker non-votes.

Governance Assessment

• Strengths

  • Independent Chair with deep agriculture and global operating expertise; serves on Audit and Governance & Compliance committees and is designated an audit committee financial expert.
  • Strong attendance culture (Board and committees) and structured executive sessions led by the Chair.
  • Clear director compensation framework targeted to peer median; meaningful equity retainer and strict ownership/holding requirements; prohibition on hedging/pledging supports alignment.
  • Robust related-person transaction policy and independent compensation advisor oversight; high say-on-pay support reinforces investor confidence in governance.

• Watch items / potential conflicts

  • Multiple outside public boards (three) raise time-commitment considerations; however, Board policy limits and reported strong aggregate attendance mitigate risk.
  • Interlocks via service on boards of companies included in Corteva’s compensation peer group (Deere, 3M). While Page is not on the People & Compensation Committee, ongoing transparency and independent consultant usage are important safeguards.

• Overall: Page’s independent chairmanship, financial expertise, and sector depth are governance positives. Equity holding requirements and anti-hedging/pledging policies enhance alignment. Shareholder support levels and attendance bolster confidence, while outside board load and peer-group interlocks warrant continued monitoring.