Dow replaces Parker with Stavropoulos in top management shakeup

Omnexus - Dec 13, 2002

MIDLAND, MI, Dec. 13 -- Dow Chemical Co. took action in response to its disappointing financial performance the last two years, appointing William Stavropoulos as president and chief executive officer, to replace Michael Parker. In a statement, Dow said its board reached the decision solely in light of the struggling performance of the company over the last two years. The company also noted that this years results were expected to show no improvement over 2001. Dow has suffered from a long-term downturn in the chemicals industry and has also been challenged with the integration of the Union Carbide business which it acquired in 2001. Stavropoulos, 63, served as president and COO beginning in 1993, and as president and CEO from...

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