New Leadership Team in Place at the Dow Chemical Company
MIDLAND, Mich. - November 1, 2000 - The Dow Chemical Company announced today that Michael D. Parker has assumed the position of president and CEO of the company. His election by the company?s Board of Directors was announced earlier this year and became effective today.
In accordance with Dow?s longstanding practice, William S. Stavropoulos has stepped down as president and CEO, having both reached age 60 and served as CEO for five years. He was elected as chairman of the Board and chairman of the Executive Committee of the Board of Directors, earlier this year and assumes these roles today.
"I?m proud of this company and its people, and all that we have achieved together in recent years," says Stavropoulos. "Moving forward, there is still much more to do as Dow focuses on accelerating growth. Mike Parker is an accomplished leader; I?m confident he will ensure that Dow continues to succeed. Over the past five years, he has been part of the executive team that developed the company?s strategy, and he has been a key leader in transforming Dow into the world?s most productive chemical company."
A Dow employee for more than 30 years, Parker has been a member of Dow?s Board of Directors since 1995 and has served on the Board?s Executive Committee, the Corporate Leadership Team, the Finance committee, as well as, the Environment, Health and Safety and Public Policy Committees.
Parker has named and leads a newly configured Corporate Operating Board composed of Dow?s business group presidents, corporate functional vice presidents and the chair of the company?s Geographic Council.
"Dow has a winning strategy that focuses both on value growth and on continuous productivity enhancements," says Parker. "My goal is to accelerate the implementation of this strategy. With our outstanding leadership team, we will continue to work hard to grow our company, and to push beyond the traditional boundaries of the chemical industry through leadership in e-Commerce, Six Sigma, Diversity and Sustainable Development. I?m privileged to be leading this company into the future."
Parker?s long career at Dow has encompassed a variety of positions in research, manufacturing and commercial activities in the United States, Europe and Asia. He began his Dow career in 1968 with Dow International at Freeport, Texas, in Organics Research and Development, and subsequently became a production engineer. In 1972, he moved to Birmingham, England, for a field sales position and in 1975 was named a district sales manager. In 1977 he was named product marketing manager for Epoxy Resins, Dow Europe. He later became director of marketing for Inorganic Chemicals, then assumed the same position for Organic Chemicals. In 1983, he was named commercial director for the Functional Products Department, Dow Europe. Parker moved to Midland in 1984 as general manager of the Specialty Chemicals department, Dow U.S.A. In 1987, he moved to Hong Kong and became commercial vice president of Dow Pacific and in 1988 was named president of Dow Pacific. Upon returning to Midland in 1993, he was named group vice president with responsibilities for Chemicals and Hydrocarbons, and in 1995 he became president of Dow North America while retaining global business responsibilities for Chemicals. He was named executive vice president in 1996.
Parker received a bachelor?s degree in chemical engineering from The University of Manchester (England) and an MBA from the Manchester Business School.
Parker?s appointment comes amidst a global transformation of The Dow Chemical Company that began in 1993. Since then, the company has reduced structural costs
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