Dow Chemical Restructures Business
The Dow Chemical Co. recently announced a new business structure and executive leadership appointments. Effective immediately, the company will eliminate the current Business Division structure and move to a Global Business Unit model that will have business presidents. The business presidents will be accountable for generating increased earnings, and the accelerated advancement and execution of the company’s strategy. The business presidents will report to a newly formed Executive Committee, which will set the overall direction and strategy for Dow, monitor and deliver results, and optimize resource deployment across the businesses.
Members of the Executive Committee include: Andrew N. Liveris, chairman and CEO; James R. Fitterling, executive vice president, who will have executive oversight of Feedstocks, Performance Plastics, Asia and Latin America; Joe Harlan, executive vice president, who will have executive oversight of Chemicals, Energy, and Performance Materials; Howard Ungerleider, executive vice president, who will have executive oversight of Advanced Materials, which includes Coatings and Infrastructure Solutions, and Electronic and Functional Materials; and
Bill Weideman, CFO and executive vice president, who will have executive oversight of Finance, Dow AgroSciences, and Corporate Development.
“To accomplish our strategic objectives and deliver increased results in the next stage of Dow’s transformation, it will require a different business organization and operating structure than the one that has taken us to where we are today in Dow’s transformation,” said Andrew N. Liveris, chairman and CEO. “We continue to adapt our business model to take advantage of the changing dynamics in the global marketplace. Moving forward, we will have less structure at the top of the company with more deployment and implementation in the markets and out in the field. We will have less centralization and more decentralization. We are putting in place the optimal structure for the next phase of our strategy that will better enable us to intensely focus on our customer and on developing markets around the world.”
For additional information, visit www.dow.com.