The current executive chairman of DowDuPont Inc. Andrew N. Liveris is set to step down from his role this April 1 and retire as the company prepares to separate itself into independent spin off businesses, the Midland, MI-based firm announced via press release Monday.
Jeff Fettig, presently the co-lead Independent Director for DowDuPont, will assume the role of non-employee Executive Chairman of the board as Liveris departs. The company announced earlier that Liveris will retire this July.
“Dow has achieved record operating results and shareholder value under Andrew’s leadership, which continues as part of the DowDuPont merger,” said Fettig in a statement. “Andrew is truly a global CEO in every sense of the term, and his leadership not only at Dow, but across the entire business community, will be felt for decades.”
The company’s press release praised Liveris’ advocacy for the manufacturing sector and his service with the presidential administrations of Donald J. Trump and Barrack Obama to further advanced manufacturing innovation.
“Over the past 14 years, we have transformed Dow from a cyclical chemicals manufacturing company into one powered by science, driven by innovation, and delivering solutions to the world. We have aggressively invested in R&D and radically transformed our portfolio of businesses while maintaining our commitment to our heritage and values,” said Liveris in the release. “With that transformation complete and Dow entering into its next phase of growth, now is the right time for me to effect my previously announced plan to transition and then to retire.”