Dow Chemical Updates Transition Of Chairman And CEO Andrew Liveris

(RTTNews) - Dow Chemical Company (DOW) announced an update to the transition of Chairman and CEO Andrew Liveris, to reflect that he will serve as Executive Chairman of DowDuPont from closing of the DowDuPont merger transaction (anticipated to occur in August 2017) through April 1, 2018, at which time he will become Chairman through July 1, 2018, at which time he will retire from the company and the Board of Directors.

Separately, Dow Chemical announced its next phase of comprehensive investments over the next five years to further enhance its competitive advantage and deliver earnings growth. The Company also continues to accelerate its efforts to train and educate the workforce and close the skills gap for tomorrow's manufacturing careers.

The projects announced today extend Dow's U.S. growth investments to more than $12 billion over a 10-year period and are expected to employ approximately 5,500 workers at peak activity, as well as 300 permanent jobs. Investments in the United States will support the largest job creation, reaching approximately 3,500 construction jobs and 200 full-time technical, vocational and professional careers. The job creation is also expected to have a multiplier effect, supporting additional employment of nearly 2,000 jobs across the broader economy.

The investments announced today are expected to come online in a phased manner, beginning in 2020 and will require estimated capital expenditures of approximately $4 billion, spread over the next five years.