ParfumGigi@aol.com

03/14/2007

Dow Chemical Co. CEO Andrew Liveris said Tuesday a new corporate and leadership structure will accelerate Dow's transformation and growth strategy. The change also means a shift for longtime Dow leader Gary Veurink -- first to Dow retiree, and then to Dow Corning special adviser.

"As we look towards our future, it is essential that we define a leadership organization and leadership teams that will swiftly take us to the next phase of our evolution," Liveris said. "Over the past few months, this has been my key area of focus -- ensuring we have the right people, concentrating on the right tasks, with the right levels of empowerment."

A senior level realignment includes the formation of a five-person Executive Leadership Committee which will concentrate on defining the company's strategic direction, prioritizing its investment agenda, establishing enterprise-wide policy and setting financial plans and performance metrics. In addition to Liveris, the committee includes: Geoffery Merszei, executive vice president and chief financial office; Romeo Kreinberg, executive vice president of performance businesses; Heinz Haller, senior vice president of strategic development and new ventures and Mike Gambrell, executive vice president of basics businesses.

"I am extremely excited by the structure and the teams we are setting in place today -- they will be the catalyst for tremendous change as we drive forward with the next phase of our strategic agenda," Liveris said.

The new structure also includes retirement former Michigan Operations site leader Veurink. Effective June 30, he will accept a position at Dow Corning Corp. as special adviser to CEO Stephanie Burns on manufacturing and engineering. He also serves on the Board of Directors at Dow Corning.

Along with leadership changes, he also redefined the company's global business portfolio, structuring it around eight distinct groups, each led by a business president. The groups and presidents are:

Basic Plastics -- Jim Fitterling

Basic Chemicals -- Earl Shipp

Polyurethanes -- Pat Dawson

Designed Polymers & Latex -- Peter Davis

Epoxy & Intermediates / Specialty Chemicals -- Patrick Ho

Specialty Plastics -- George Biltz

Dow Agrosciences -- Jerome Peribere

Hydrocarbons & Energy -- Juan Luciano

The eight business presidents will implement growth strategies for businesses in their division, and guide each toward the company's short-term and long-term financial goals.

"The business leadership framework we have put in place creates an environment of greater accountability and increased autonomy, in which these eight presidents will have the agility and the authority to model their businesses around the individual drivers of long-term success," Liveris said. "I am confident that the new structure will provide the catalyst for significant and sustainable change -- continuing the positive momentum that we have built so successfully over the past few years."