Dow and DuPont review spin-offs, announce board
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DuPoint and The Dow Chemical Company have announced the members of the combined board of directors for the new company resulting from their merger. The 16-member board will consist of eight current members of the Dow board and eight current members of the DuPont board.
Dow:
- Andrew N. Liveris, Chairman and CEO, The Dow Chemical Company
- Jeff M. Fettig, Chairman and CEO, Whirlpool Corporation
- James A. Bell, Former Chief Financial Officer, Boeing
- Raymond J. Milchovich, Former Chairman and CEO, Foster Wheeler
- Paul Polman, CEO, Unilever
- Dennis H. Reilley, Non-Executive Chairman, Marathon Oil Corp.
- James M. Ringler, Chairman, Teradata Corporation
- Ruth G. Shaw, Former Group Executive, Public Policy and President, Duke Nuclear
DuPont:
- Edward D. Breen, chair and CEO, DuPont
- Alexander (Sandy) M. Cutler, former chairman & CEO of Eaton
- Lamberto Andreotti, former chair of the board and CEO of Bristol-Myers Squibb
- Robert A. Brown, president of Boston University
- James L. Gallogly, former chairman of the management Board and CEO of LyondellBasell Industries
- N.V. Marillyn A. Hewson, chairman, president, and CEO of Lockheed Martin Corporation
- Lois D. Juliber, former vice chairman and COO of Colgate-Palmolive Company
- Lee M. Thomas, former chairman and CEO of Rayonier *co-lead director of DowDuPont
“Today’s announcement is another significant milestone in our progress to complete this value-creating transaction,” said Andrew N. Liveris, chairman and chief executive officer of Dow, in a press release. “Each of these executives brings decades of experience to the Board of DowDuPont, and we look forward to working with this world-class Board to help capture the committed synergies and drive the intended spins as swiftly as possible.”
In addition, the companies stated they will be reaccessng the post-merger plan. The current plan is to break the larger company into three subsidiaries, including an agricultural firm and a specialty products firm here in Delaware and a chemical firm in Michigan. The locations will stay the same, but other aspects of the spin-offs could change following the review. Dow and DuPont did not provide specifics.
The merger is expected to close between August 1, 2017 and September 1, 2017. The spin-offs will form within 18 months of the closing.
