MIDLAND, Mich.--(BUSINESS WIRE)--The Dow Chemical Company’s (NYSE: DOW) Board of Directors, including Third Point’s two designated directors, are unanimously and fully supportive of the announced merger of equals with DuPont and intended separation. This merger is the optimal path forward and a win for all of our shareholders. We stand by both our and DuPont’s Boards’ unanimous decisions to conduct this transaction, and are fully focused on achieving the successful integration of both powerhouse companies.
Statements from Dow Board Members for Attribution
Jeff Fettig – Lead Director
“Dow’s Board of Directors is fully aligned with the strategy that Andrew and his management team are executing. We unanimously support the agreement with DuPont, which is the culmination of our focus to create consistent and sustainable value for our shareholders and meet our customers’ needs.”
Dennis H. Reilley
"Serving as a long-standing member of Dow's Board of Directors, I've had the opportunity to help develop and guide Dow's strategy over the years culminating in the recent merger announcement with DuPont. This historic action, combined with the strong and consistent financial results the Company has delivered for the last three years, is a testament to the unwavering vision and leadership of Dow's Board, Andrew Liveris himself, and the strength and depth of Dow's management team."
“The Dow Board represents a wide range of experience and fresh perspective and has worked tirelessly to review options to maximize return for shareholders. Our collective work will further increase shareholder value in this once-in-a-lifetime DowDuPont transaction, which would not have been possible without Dow’s strong bench of management with Andrew at the helm.”
Raymond J. Milchovich – Joined 2015
“My onboarding experience over the last year has been exceptional, which is a testament to the strength and alignment of Dow’s entire management team and Board. Since joining the Board, I have been fully aligned with the strategic decisions and direction the Board has taken, including our most recent agreement with DuPont – a highly synergistic transaction that will unlock significant shareholder value.”
Robert S. (Steve) Miller – Joined 2015
“Since being elected to Dow’s Board, I have been fully aligned with our directors and management team. We have come together as a unified team to make the best possible decisions, including the agreement with DuPont, to create value for our shareholders.”
Ruth G. Shaw
"Dow has flawlessly executed its strategic plan, drawing on the diverse experience of our Board and the deep capabilities of our management team. We were prepared and ready to act at this remarkable moment in time."
“In my six years on Dow’s Board, I have seen Dow create significant value under Andrew’s leadership. I feel confident that Dow is in good hands today and for years to come with the strong pipeline of talent Andrew has assembled on his management team.”
Mark Loughridge – Joined 2015
The "on boarding" process for new directors was truly best in class. The Dow boot-camp gave us a unique and fascinating window into the operations, strategy and exceptional talent at Dow. I felt well prepared to contribute as a board member and I feel very confident we have the right team to execute the integration process to generate significant shareholder value from the merger and expected subsequent spins with DuPont.
Richard K. Davis – Joined 2015
“It is an exciting time for Dow. Our Board’s strategic focus paired with management’s capabilities is a powerful combination, as demonstrated by the historic decision we made to merge with DuPont which is expected to ultimately create three strong, focused businesses and significant value for our shareholders.”
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 the intersection of chemical, physical and biological sciences 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 2014, Dow had annual sales of more than $58 billion and employed approximately 53,000 people worldwide. The Company's more than 6,000 product families are manufactured at 201 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.
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