Executive Chairman Transition Effective April 1, 2018
Liveris to Retire Effective July 1, 2018
MIDLAND, Mich.--(BUSINESS WIRE)--
DowDuPont (NYSE: DWDP) today announced that Andrew N. Liveris will be
transitioning out of the role as Executive Chairman, and then retiring
as the Materials Science Division of the company progresses on its
succession process. Mr. Liveris has informed the Board that he will no
longer serve as Executive Chairman of DowDuPont effective April 1, 2018,
and Jeff Fettig, current co-Lead Independent Director for DowDuPont,
will serve as a non-employee Executive Chairman of the Board of
DowDuPont. Liveris will continue as a director of DowDuPont through his
previously announced retirement from the company effective July 1, 2018.
“On behalf of the Board, we want to thank Andrew for his outstanding
leadership and vision. Dow has achieved record operating results and
shareholder value under Andrew’s leadership, which continues as part of
the DowDuPont merger,” said Fettig. “Andrew is truly a global CEO in
every sense of the term, and his leadership not only at Dow, but across
the entire business community, will be felt for decades.”
Fettig continued: “Since joining the Board of Dow, it has been a
privilege to work alongside Andrew and the rest of the Board, as we
developed and executed against Dow’s market-driven strategy. I look
forward to continuing to work with the entire DowDuPont Board to
implement the intended separation of DowDuPont into three focused and
industry-leading businesses.”
“Over the last 14 years, we have transformed Dow from a cyclical
chemicals manufacturing company into one powered by science, driven by
innovation and delivering solutions to the world. We have aggressively
invested in R&D and radically transformed our portfolio of businesses
while proudly maintaining our commitment to our heritage and values,”
said Liveris. “With that transformation complete and Dow entering into
its next phase of growth, now is the right time for me to effect my
previously announced plan to transition and then to retire. I want to
thank the 54,000 women and men of Dow around the world for their hard
work and dedication – without their tireless efforts, Dow would not be
where it is today.”
In addition to his successful leadership of Dow, Liveris, 63, has been
an international advocate for the criticality of manufacturing to the
long-term health of national economies. Liveris is the author of “Make
It in America,” a book which presents a comprehensive set of practical
policy solutions and business strategies to achieve the Company's vision
of an Advanced Manufacturing economy. He was tapped by the current U.S.
Trump Administration to help identify new ways to spur innovation,
revitalize the U.S. manufacturing sector, and drive economic growth and
prosperity. He currently serves on Secretary Acosta’s Workforce of the
Future Committee and previously he served as Co-Chair of U.S. President
Obama's Advanced Manufacturing Partnership steering committee and a
member of the U.S. President’s Export Council. To this end, he has led
Dow to collaborate with governments on Advanced Manufacturing Plans for
the U.S., Australia, Europe, Latin America, Asia, the Middle East, and
Africa, while simultaneously driving the Company’s world-class
investment and industry leadership in fast-growing regions around the
globe.
Liveris’ breadth of experience and expertise is broadly represented
across the business, government, academic and non-profit sectors. He
serves in numerous advisory roles with governments on manufacturing,
investment and business development including Australia, Argentina,
Saudi Arabia, and Thailand through service on various councils and
committees. Liveris sits on the Board of Directors of IBM, is a member
and previous Vice Chair of the Business Roundtable, an Executive
Committee Member and past Chairman of the U.S. Business Council, and a
member of the Concordia Leadership Council and the Australian
government’s Industry Growth Centres Advisory Committee. Liveris is a
member of the Peterson Institute for International Economics, the
American Australian Association and The B Team. He serves on the Board
of Trustees of The King Abdullah University of Science and Technology
(KAUST), California Institute of Technology and the United States
Council for International Business. He is also on the board of the
U.S.-India Strategic Partnership Forum (USISPF).
About DowDuPont™
DowDuPont (NYSE: DWDP) is a holding company comprised of The Dow
Chemical Company and DuPont with the intent to form strong, independent,
publicly traded companies in agriculture, materials science and
specialty products sectors that will lead their respective industries
through productive, science-based innovation to meet the needs of
customers and help solve global challenges. For more information, please
visit us at www.dow-dupont.com.
About Dow
The Dow Chemical Company (Dow) combines science and technology knowledge
to develop premier materials science solutions that are essential to
human progress. Dow has one of the strongest and broadest toolkits in
the industry, with robust technology, asset integration, scale and
competitive capabilities that enable it to address complex global
issues. Dow’s market-driven, industry-leading portfolio of advanced
materials, industrial intermediates, and plastics businesses deliver a
broad range of differentiated technology-based products and solutions
for customers in high-growth markets such as packaging, infrastructure,
and consumer care. Dow is a subsidiary of DowDuPont (NYSE: DWDP), a
holding company comprised of Dow and DuPont with the intent to form
three strong, independent, publicly traded companies in agriculture,
materials science and specialty sectors. More information can be found
at www.dow.com.
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Source: DowDuPont