WILMINGTON — DuPont CEO Edward Breen announced that the company’s board of directors has approved $200 million to modernize and upgrade the DuPont Experimental Station on Powder Mill Road. Breen made […]
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.
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
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.