Dow Chemical announced several leadership changes along with the creation of a new plastics division within the company.
The new division is called performance plastics, and includes all Dow plastics, like polyethylene, wire and cable, elastomers, films and packaging resins. It also will include the company's packaging and converting unit, which was formerly part of the advanced materials division.
It'll be overseen by Howard Ungerleider, who will be president of the performance plastics division as well as senior VP for the company. He formerly was the VP for investor relations.
The change is a result of developments at Dow over the past two years, including making a move away from commodity plastics and toward more specialized products. That included getting rid of its former partner Styron, which focuses on a broad range of plastics, synthetics and rubber products.
The new division will focus more on high-value applications of Dow plastics, including in the packaging, hygiene, food and telecommunications industries, says Dow chairman and CEO Andrew Liveris.
"Our performance plastics division will have a technology, market-driven approach to intensely focus on downstream markets such as packaging, health and hygiene, and food applications while we continue to optimize the commodity side of our plastics businesses," Liveris says. "This division is positioned for further growth and market leadership in Dow's revitalized portfolio. I am excited to have Howard's focused leadership of this vital new division."
Dow now will have six business divisions; the others are agrosciences, advanced materials, performance products and systems, chemicals and energy, and hydrocarbons.
Writer: Sam EgglestonSource: Andrew Liveris, Dow Chemical Company
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