Dow Announces Updated Transition Timing
MIDLAND, Mich. - May 11, 2017 - The Dow Chemical Company (NYSE:DOW) today announced an update to the transition of Chairman and CEO Andrew Liveris, to reflect that he will serve as Executive Chairman of DowDuPont from closing of the DowDuPont merger transaction (anticipated to occur in August 2017) through April 1, 2018, at which time he will become Chairman through July 1, 2018, at which time he will retire from the company and the Board of Directors.
“Given the complexity, unique structure and Andrew’s role as a key architect of this transaction, the Dow Board believes that the continuity of leadership will best serve our shareholders during this critical time of transition. This enables us to achieve the full value-creation promise behind the merger and subsequent intended spins,” said Jeff Fettig, Dow’s Lead Independent Director and current Chairman and Chief Executive Officer of Whirlpool Corporation.
Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company is driving innovations that extract value from material, polymer, chemical and biological science to help address many of the world's most challenging problems, such as the need for fresh food, safer and more sustainable transportation, clean water, energy efficiency, more durable infrastructure, and increasing agricultural productivity. Dow's integrated, market-driven portfolio delivers a broad range of technology-based products and solutions to customers in 175 countries and in high-growth sectors such as packaging, infrastructure, transportation, consumer care, electronics, and agriculture. In 2016, Dow had annual sales of $48 billion and employed approximately 56,000 people worldwide. The Company's more than 7,000 product families are manufactured at 189 sites in 34 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.
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