Dow’s Liveris steps down in April ahead of retiring

Greek Australian Andrew Liveris will step down from his position as DowDuPont Inc chief on April 1, making good on an earlier promise to retire as the company named existing managers to head its materials science unit when it is spun off as Dow next year. Jim Fitterling, currently chief operating officer of the materials science unit, will become its chief executive under the Dow brand in a spin-off planned for the first quarter of 2019, the company said in a statement. Fitterling’s current chief financial officer, Howard Ungerleider, will serve as Dow’s CFO. Both men are Dow veterans and have worked extensively on the merger. Liveris, who headed US President Donald Trump’s Manufacturing Council until it was disbanded last year, was chief executive of Dow Chemical until 2004 and continued as executive chairman after its merger with DuPont last year. He is also among the founders of The Hellenic Initiative (THI). He will remain as a director of the combined board until July 1, in keeping with previously announced plans to retire on that date. “The plans announced today [are] the result of many years of working on a succession pipeline,” Darwin-born Liveris told Reuters. “Jim and Howard have been valued members of Dow’s and my most senior leadership team and have each played a pivotal role in developing and executing Dow’s market-driven strategy.” He said the decision was made during the Christmas holidays.