EoW May 2011

corporate news

Howard Ungerleider, vice president for investor relations, has been named senior vice president for Dow, and president of the newly formed Performance Plastics Division. The Performance Plastics Division will be comprised of all Dow plastics including solution polyethylene, wire and cable, elastomers, films and packaging resins and will include the packaging and converting unit that is currently part of the advanced materials division. Its focus will be on high value market driven solutions in applications such as packaging, hygiene, food and telecommunications. The division’s formation reflects Dow’s active portfolio management over the last two years that has resulted in the de-emphasis of its commodity plastics products, especially following the divestment of Styron. Mr Ungerleider will join the Executive Leadership Committee (ELC) and report to Andrew Liveris, chairman and CEO. His replacement as vice president of investor relations will be announced in the near future. In a related move, Jim Fitterling, executive vice president, adds corporate development to his current Hydrocarbons Divisional leadership role. He will assume corporate strategy development responsibility at the ELC level and will have responsibility for ELC, strategy and portfolio team (SPT), senior leadership team (SLT) and global leadership team (GLT) agendas, and oversight of the transformation project management office (PMO). In addition, the chlorinated solvents business will move to the performance products and systems division and report to Juan Luciano, executive vice president and president of this division. Dow will now have six business divisions: Dow Agrosciences, Advanced Materials, Performance Products and Systems, Performance Plastics, Chemicals and Energy, and Hydrocarbons, the first four driven by markets and technology, and the latter two driven by assets and feedstocks. “These leadership and business moves are designed to further our transformation and our strategic shift to a diversified industry-leading portfolio of advanced materials, agrosciences, speciality chemicals, and now performance plastics businesses that deliver a broad range of technology-based products and solutions to our customers around the world,” said Mr Liveris. “Our Performance Plastics Division will have a technology, market-driven approach to intensely focus on downstream markets such as packaging, health and hygiene and food applications while we continue to optimise the commodity side of our plastics businesses. “This division is positioned for further growth and market leadership in Dow’s revitalised portfolio. I am excited to have Howard’s focused leadership of this vital new division.” New chief for new division

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EuroWire – May 2011