Wilmington, Delaware, United States: DuPont and The Dow Chemical Company, on May 23, has announced senior leadership appointments for DowDuPont, following the consummation of the proposed merger of equals. The appointments, the announcement added, will be effective upon completion of the proposed merger transaction, which is expected to close in the second half of 2016, subject to satisfaction of customary closing conditions, including receipt of stockholder and regulatory approvals.
As per the announcement, Andrew N Liveris, Chairman and Chief Executive Officer of Dow, who will become executive chairman of DowDuPont, will also have the responsibility for the Material Science business. Edward D Breen, Chair and Chief Executive Officer of DuPont, said to become chief executive officer of DowDuPont, will have Agriculture and Specialty Products businesses as part of his responsibilities. Both executives will report to the DowDuPont Board of Directors, the announcement added.
According to The Dow Chemical Company, the following are the rest of the senior leadership team appointments that were announced on Monday:
- Currently the vice chairman and chief financial officer of Dow, Howard Ungerleider will become chief financial officer for DowDuPont.
- Stacy Fox has been appointed as general counsel of the new company. Fox is currently the senior vice president and general counsel for DuPont.
- Occupying the role of executive vice president and general counsel of Dow, Charles J Kalil will assume the responsibility of special counsellor to the executive chairman of DowDuPont, as well as general counsel for the Material Science business.
- Jim Fitterling, President and Chief Operating Officer of Dow, will take on the role of chief operating officer for DowDuPont’s Material Science business.
- James C Collins, Jr, Executive Vice President for DuPont and Leader of DuPont’s Agriculture business segment at present, is said to become chief operating officer for DowDuPont’s Agriculture business.
- Marc Doyle, currently executive vice president and leader of DuPont’s Electronics & Communications, Industrial Biosciences, Nutrition & Health, Performance Materials and Safety & Protection businesses, will become chief operating officer for DowDuPont’s Specialty Products business,
“Each of these executives has a proven track record of executing against a strategic agenda and maximising stockholder value creation,” said Andrew N Liveris, Chairman and Chief Executive Officer of Dow. “By combining the immense talent from both organisations,” he added, “DowDuPont’s three business divisions will each have a strong and focused leader at the helm driving a clear strategy designed to deliver superior solutions and choices for customers, in addition to setting up the three independent companies.”