WSJ: DowDuPont Executive Chairman to step down April 1
DowDuPont also announced its Board of Directors intends to appoint Fitterling 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 February 26, 2018, upon intended separation of the company, according to the release.
Midland-based Dow Chemical Co. and Wilmington, Del. -based DuPont Co., the two largest USA chemical makers, achieved last August all the regulatory approvals needed to close their merger. He is now chief operating officer of that unit. The company agreed to revise its breakup plan past year after pressure from shareholders.
Photo Andrew Liveris is resigning as the executive chairman of DowDuPont. He judged the time was right with the stock price trading at all-time highs following the completion of the $78 billion merger and the start of the Saudi Arabia petrochemical complex Sadara, the newspaper said, citing an interview with Liveris.
The company's Co-Lead Director, Jeff Fettig, is expected to take over for Liveris. The board then bumped his exit to July 1 of this year.
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Mr. Liveris, 63, had previously said that he would most likely leave the company this year.
Liveris, who led Dow prior to the merger with DuPont, will transition into retirement as the company completes its plan to separate into three publicly traded entities, handling materials science, specialty products and agriculture. A Dow lifer, Liveris faced pressure from Third Point, which didn't want him involved in the merged company.
The company said Chief Financial Officer Howard Ungerleider will serve as Dow's CFO.
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