Dow Inc. has announced some personnel moves that will take effect after the firm's annual meeting on April 9.
Dow's board of directors plans to appoint CEO Jim Fitterling to be chairman at that time. Midland, Mich.-based Dow is one of the world's largest makers of polyethylene as well as many specialty plastics. Fitterling was named CEO in March 2018.
Fitterling joined Dow in 1984 and worked in sales, marketing and supply chain positions before assuming a variety of leadership roles. His plastics experience within Dow includes time spent as business vice president for PE and president of basic plastics.
In a Feb. 18 news release, current Chairman Jeff Fettig said that Fitterling "has demonstrated exceptional leadership of Dow, successfully guiding the company through its separation from DowDuPont Inc. and strengthening its competitive position among industry peers."
Fettig added that Dow's board "is confident that [Fitterling's] appointment will enable Jim to continue to accelerate the meaningful changes he has already initiated for Dow to achieve its ambition as a world-leading materials science company."
Dow also announced that Jill Wyant, executive vice president and president of global regions at Ecolab Inc., has been nominated for election to Dow's board at the annual meeting.
Officials said in the release that as a senior strategy and operating executive with 25 years of experience leading Fortune 500 businesses in the industrial and health care sectors, Wyant "brings a strong track record of driving business growth and profitability through breakthrough innovation, manufacturing excellence and operational efficiency."
"We are certain that Jill's fresh and relevant perspective from a parallel industry will enhance the diversity of experience and ideas within our Board," Fettig said.
Ruth Shaw, former group executive for public policy and president at Duke Nuclear, will serve out her term until the annual meeting and then retire after 15 years as a board member. Officials said in the release that Shaw "has contributed significantly to the oversight of Dow and served on a variety of committees … [and] also helped lead the company through several transformational events, including the DowDuPont transaction."
Officials added that Dow's board brings "a variety of relevant skills and diverse experiences, which includes senior leadership, global business, capital allocation, financial acumen, technology expertise, operational experience, as well as marketing and academic research backgrounds."
More than half of the independent directors are female or members of a U.S. ethnic minority group, they added.
Dow employs around 36,500 worldwide and posted sales of almost $43 billion in 2019.