Corporate governance

Richard: First, a most effective board is one of diverse thought and diverse backgrounds and the Dow Board represents that perfectly. We also continually review and assess the talent we need on the Board to ensure we have critical experience and background represented. As a result, we regularly bring on new directors, adding fresh viewpoints and important skillsets, like expertise in large capital projects, risk management, ESG matters, and global finance. Each director brings unique experiences to the table and gives us an outside-in view of the organization and insights into the different perspectives of our stakeholders.

Richard: The primary role of the Audit Committee is to oversee the quality of the performance of the organization and then the quality of reporting about that performance. Our reporting needs to be clear and transparent to our stakeholders so they can understand not just what we’re doing, but also how we’re doing it. We need to make certain our stakeholders have confidence that we’re properly managing risks, like climate change and cybersecurity, and that we have the right internal controls in place to ensure reliability and integrity of our reporting and disclosures. We also continually evaluate and improve. For example, we recently enhanced our ESG reporting and disclosures through improved carbon emissions and circularity reporting, and improved climate risk disclosures and greenhouse gas intensity metrics.

Richard: As a Director at Dow, one of our more important responsibilities is to evaluate the performance of the company right now to ensure sure that we’re doing all that we can to be the great company we promised to be. The other responsibility is strategic. We look ahead to ensure we’re making the decisions and putting plans in place to be even stronger five or 10 years from now. Then we need to convey our strategy clearly to our stakeholders, including our shareholders, so they can be excited about not just the company they own today but the one that they will own in the future. For example, we recently shared our planned pathway to reducing carbon and greenhouse gas emissions, while growing the company, which will continue creating strong value for all our stakeholders.

Richard: At Dow, we know that strong corporate governance is critical to achieving our ambition to become the most innovative, customer-centric, inclusive, and sustainable materials science company in the world. This begins with a strong, independent Board with the right skills and experiences, clearly defined committee roles and responsibilities, active engagement with company leadership, and oversight of the strategy and overall performance. As a Board, we execute these responsibilities and focus on Dow’s strategic initiatives to continuing financial growth, ESG progress, and driving long-term shareholder value.

Richard: The only way we can achieve our ambition is by engaging with our stakeholders, including our shareholders, to fully understand their feedback and ensure we continue to serve their interests. As Lead Director, I enjoy the opportunity to meet with investors, shareholders and other stakeholders. I share their perspectives and viewpoints with the Board, and that enhances our decision-making and helps guide our oversight and input into a broad range of important topics, including board and management team composition and effectiveness, business strategy development, company performance, and risk management.

Richard: As a Board, in addition to financial excellence and integrity, we know that our progress in ESG matters. These topics - like advancing inclusion and equity, plastics circularity and a zero-carbon economy – are top of mind with our shareholders and, in fact, all our stakeholders. At Dow, we are in a leading position and recognized as one of the most progressive companies in this area. We are proud to share our progress with our stakeholders as well as our commitment to continuous improvement both now and in the future. For example, to create even greater accountability for ESG progress, we recently enhanced the link between ESG performance and our compensation programs. I know I am personally proud of being part of a mission to do well by doing right.