Dow Announces Post-Close Leadership of Dow Corning Corporation
May 16 2016 - 10:00AM
Business Wire
Bob Hansen, Chairman, Chief Executive Officer and President of
Dow Corning to Retire;Howard Ungerleider, Vice Chairman and Chief
Financial Officer of Dow named Chairman of Dow Corning; Mauro
Gregorio Named Chief Executive Officer of Dow Corning
The Dow Chemical Company (NYSE: DOW) and Dow Corning Corporation
today announced that Robert D. (Bob) Hansen, chairman, chief
executive officer and president, has announced his intention to
retire from Dow Corning Corporation upon the completion of Dow’s
ownership restructure transaction with Corning, Inc., which is
expected to close in the second quarter of 2016. Hansen will stay
with the company for several months, helping to ensure a smooth
ownership transition for the Dow Corning Silicones business.
Hansen has 34 years of service with Dow Corning. After joining
the company in 1982, he held a variety of finance, commercial,
business leadership and geographic leadership roles, including
president of Dow Corning’s operations in Europe. Hansen was named
president in 2010, and chief executive officer in 2011. He was
elected chairman of the board in 2013.
“For more than three decades, Bob has worked tirelessly to
advance the future of Dow Corning,” said Andrew N. Liveris, Dow’s
chairman and chief executive officer. “His leadership and strategic
direction has positioned Dow Corning well for this next phase of
growth and success.”
In addition to his current responsibilities, Dow has named
Howard Ungerleider, vice chairman and chief financial officer of
Dow as chairman of Dow Corning, and Mauro Gregorio, currently vice
president leading the Dow Corning integration, as chief executive
officer of Dow Corning.
Gregorio brings more than 30 years of market and international
experience to Dow Corning. He has worked across a number of
downstream, market facing businesses on three continents, including
Engineering Plastics, where he led a team that built the innovation
pipeline for Dow’s participation in the automotive industry and
with electronics OEMs; Performance Plastics, where he drove
business development efforts with global brand owners in Dow’s
Hygiene and Medical and Packaging businesses; and in Dow’s Energy
portfolio, where he was instrumental in delivering innovative
solutions that substantially improved Dow’s sustainability results.
Gregorio also has functional expertise spanning commercial, supply
chain, technical service and new business development. Most
recently, Gregorio led Dow’s Elastomers and Electrical and
Telecommunications portfolio along with the Energy and Feedstocks
business, before being named to lead the Dow Corning transaction at
the end of 2015.
Until the close of the transaction, Hansen, Ungerleider and
Gregorio will maintain their current roles and
responsibilities.
“Howard and Mauro have been leading our integration efforts from
the beginning, and throughout this time, they have developed an
intimate understanding of Dow Corning’s silicones business, as well
as the many talented people of Dow Corning’s team,” said Liveris.
“I am confident we have the right leadership in place to unlock the
tremendous growth potential of this transaction.”
About Dow
Dow (NYSE: DOW) combines the power of science and technology to
passionately innovate what is essential to human progress. The
Company is driving innovations that extract value from material,
polymer, chemical and biological science to help address many of
the world's most challenging problems such as the need for clean
water, clean energy generation and conservation, and increasing
agricultural productivity. Dow's integrated, market-driven,
industry-leading portfolio of specialty chemical, advanced
materials, agrosciences and plastics businesses delivers a broad
range of technology-based products and solutions to customers in
approximately 180 countries and in high-growth sectors such as
packaging, electronics, water, coatings and agriculture. In 2015,
Dow had annual sales of nearly $49 billion and employed
approximately 49,500 people worldwide. The Company's more than
6,000 product families are manufactured at 179 sites in 35
countries across the globe. References to "Dow" or the "Company"
mean The Dow Chemical Company and its consolidated subsidiaries
unless otherwise expressly noted. More information about Dow can be
found at www.dow.com.
About Dow Corning
Dow Corning (dowcorning.com) provides performance-enhancing
solutions to serve the diverse needs of more than 25,000 customers
worldwide. A global leader in silicones, silicon-based technology
and innovation, Dow Corning offers more than 7,000 products and
services via the company’s Dow Corning® and XIAMETER® brands. Dow
Corning is equally owned by The Dow Chemical Company and Corning,
Incorporated. More than half of Dow Corning’s annual sales are
outside the United States. Dow Corning’s global operations adhere
to the American Chemistry Council’s Responsible Care® initiative, a
stringent set of standards designed to advance the safe and secure
management of chemical products and processes.
®TM Trademark of The Dow Chemical Company (“Dow”) or an
affiliated company of Dow
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160516005991/en/
Rachelle SchikorraThe Dow Chemical Company+1 (989)
638-4090ryschikorra@dow.comorJarrod ErpeldingDow Corning
Corporation+1 (989) 496-1582jarrod.erpelding@dowcorning.com
Corning (NYSE:GLW)
Historical Stock Chart
From Feb 2024 to Mar 2024
Corning (NYSE:GLW)
Historical Stock Chart
From Mar 2023 to Mar 2024