Leadership Succession for DowDuPont's Materials Science Division
Andrew N. Liveris to Step Down as Executive Chairman
DowDuPont announced that Andrew N. Liveris will be transitioning out of the role as Executive Chairman, and then retiring effective July 1, 2018 while Jim Fitterling will be appointed Chief Executive Officer of the intended Materials Science Company, to be called Dow, upon intended separation of the company.
Andrew N. 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.
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. 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 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.
New Leadership for Materials Science Company
Meanwhile, the Materials Science Division of DowDuPont announced that the Materials Advisory Committee of the DowDuPont Board of Directors, intends to appoint Jim Fitterling, currently Chief Operating Officer for the Materials Science Division of DowDuPont, and President and Chief Operating Officer of The Dow Chemical Company, to the role of Chief Executive Officer of the intended Materials Science Company to be called Dow, as announced on Feb. 26, 2018, upon the intended separation of the company.
Additionally, the Materials Advisory Committee also announced that Howard Ungerleider, Chief Financial Officer of DowDuPont, and Vice Chairman and Chief Financial Officer for The Dow Chemical Company, will serve as President and Chief Financial Officer of the intended Materials Science Company.
Both Fitterling and Ungerleider will continue to serve in their current roles at DowDuPont until the completion of the division’s intended separation, which is expected to occur by the end of first quarter of 2019. “We believe that now is a good time to put in place the succession plans. Many of our mega-investments, including in Saudi Arabia and on the U.S. Gulf Coast, have started up; the integration of Dow Corning is complete; and our plans to launch the three new spincos are almost completed, with the spin of the future Dow set for the end of the first quarter of 2019,” said Andrew N. Liveris.
Jim Fitterling joined Dow in 1984 and served in a variety of Sales, Marketing and Supply Chain positions before being named Commercial Director for Liquid Separations, Dow Pacific in the mid-1990s. For the past 10 years, Fitterling has managed significant portions of the Company and has led a number of strategic and transformative actions. He has served as president of Dow Packaging and Specialty Plastics business; and as senior vice president of Corporate Development. In 2015, he was named vice chairman and chief operating officer, adding executive oversight for all of Dow’s businesses and operations, and led the merger of equals with DuPont. He was named to his current role in 2016.
Howard Ungerleider joined Dow in 1990 and his career has spanned a wide variety of commercial, business, financial, geographic, functional and enterprise-level leadership roles. He was named President for Dow’s Performance Plastics Division in 2011. In 2012, he was named Executive Vice President of Dow’s Advanced Materials Division and joined Dow’s senior-most executive team. He was elected as CFO by Dow’s Board of Directors in 2014 and was named Vice Chairman in 2015. He was appointed CFO of DowDuPont in May 2016 effective upon the close of the merger transaction between Dow and DuPont, which occurred on August 31, 2017.
The Dow Chemical Group Company
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