16 September 2005
16 September 2005
The Dow Chemical Company will realign its current three portfolios of businesses into two: Basic Plastics & Chemicals, and Performance Plastics & Chemicals with several executive changes also being made.
""Our strategy for the past decade has been to move to a basics-and performance-based business model,"" President and CEO Andrew N. Liveris stated.
""Dow is accelerating the implementation of that strategy, capitalizing on our historical strengths in low-cost production, as well as our growth and success in innovative, market-driven businesses. This alignment will drive independent strategies and actions based on the needs of each type of business within these portfolios, with the ultimate goal of maximizing Dow's earnings and extracting the full value of our company's strengths in diversification, integration, global reach, and technology.""
Several Executive changes were also made with Phillip H. Cook, Senior Vice President of Performance Chemicals and Thermosets, being named Corporate Vice President of Strategic Development and New Ventures.
Michael R. Gambrell, senior vice president of Chemicals and Intermediates, has been named Executive Vice President for the Basic Plastics & Chemicals Portfolio. Romeo Kreinberg, senior vice president of Plastics, has been named Executive Vice President for the Performance Plastics & Chemicals Portfolio.
""These moves further align our focus on our Strategic Themes."" Liveris said. ""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. This change will sharpen the focus on the specific strategies, expertise and implementation required for every business to succeed.""