Dow Chemical Realigns Businesses
Thursday September 15, 11:33 am ET
Dow Chemical Realigns Three Current Business Groups Into Two to Boost Focus, Strategy
MIDLAND, Mich. (AP) -- Dow Chemical Co., the nation's largest chemical company, on Thursday said it will realign its three current business groups into two in a bid to focus its corporate strategy.
The company's three former groups include Performance Chemicals and Thermosets, Chemicals and Intermediates, and Plastics. After the realignment is completed, Dow Chemical's two main businesses will be Basic Plastics & Chemicals and Performance Plastics & Chemicals.
"These moves further align our focus on our strategic themes," said President and CEO Andrew N. Liveris in a statement. "Both the Basics and the Performance Portfolios are vital to Dow's long-term success, enabling value growth and furthering our product, systems and ultimately our solutions offerings to our customers."
Dow also announced several executive changes to lead the two new groups.
Phillip Cook, senior vice president of Performance Chemicals and Thermosets, was named corporate vice president of strategic development and new ventures.
Michael Gambrell, senior vice president of Chemicals and Intermediates, becomes executive vice president for Basic Plastics & Chemicals. Romeo Kreinberg, senior vice president of Plastics, becomes executive vice president for Performance Plastics & Chemicals.
Dow Chemical shares fell 58 cents to $43.66 in morning trading on the New York Stock Exchange.
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