Published: Mon, March 12, 2018
Finance | By Claude Patterson

DowDuPont Chairman Liveris to Step Down April 1, WSJ Reports

DowDuPont Chairman Liveris to Step Down April 1, WSJ Reports

It will be headed by the division's current chief operating officer Jim Fitterling and his Chief Financial Officer Howard Ungerleider, both Dow veterans who have worked extensively on the merger.

Liveris, who has led Dow Chemical Co. for 14 years, guided the company through a severe spike in energy prices in 2007-08 (petrochemicals as a major cost for chemical producers), as well as the global economic crisis that followed, nearly upending the company founded late in the 19th century.

DowDuPont Inc chief Andrew Liveris will step down on April 1, making good on an earlier promise to retire as the company named existing managers to head its materials science unit when it is spun off as Dow next year.

The planned agriculture company remains as originally envisioned when the merger of Dow Chemical and DuPont was announced in December 2015. "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".

Midland-based Dow Chemical Co. and Wilmington, Del. -based DuPont Co., the two largest USA chemical makers, have received all the regulatory approvals needed to close their historic merger. And Jim Fetterling is expected to take over as Dow's CEO after the company splits into three parts next year.

Jeff Fettig, a longtime independent director, will become executive chairman.

The merger first announced in December 2015 was initially expected to close two years ago, but it had to be piloted through stiff resistance from US and foreign regulators. The other two in DuPont's home state of Delaware.

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