US-based producer Dow Chemical announced on Tuesday a new
business structure and several executive leadership
appointments, changes aimed at decentralizing its
Effective immediately, Dow will eliminate the current
business division structure and move to a global business unit
model that will have business presidents, the company said.
The business presidents will be fully accountable for
generating increased earnings, and the accelerated advancement
and execution of company strategy.
The business presidents will report to a newly-formed executive
The committee will set the overall direction and strategy
for Dow, monitor and deliver results, and optimize resource
deployment across the businesses, according to the company.
The committee will be headed by Dow CEO Andrew N.
Others include James R. Fitterling, executive vice
president, who will have executive oversight of feedstocks and performance plastics
in Asia and Latin America.
Meanwhile, vice president Joe Harlan will have executive
oversight of chemicals, energy, and performance materials.
Vice president Howard Ungerleider will have executive
oversight of advanced materials, which includes coatings and
infrastructure solutions, and electronic and functional
Finally, chief financial officer Bill Weideman will have
executive oversight of finance, Dow AgroSciences, and corporate
To accomplish our strategic objectives and deliver
increased results in the next stage of Dows
transformation, it will require a different business
organization and operating structure than the one that has
taken us to where we are today in Dows
transformation, said Liveris.
We continue to adapt our business model to take
advantage of the changing dynamics in the global
marketplace, he continued. 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
Streamlining our business and leadership structure
will result in a more agile, flexible and customer-focused
Dow said the business presidents will be announced later