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week ly be a company with annual sales in excess of $25 billion. A chemical engineer with a bachelor's degree from the University of Manchester in England and an M.B.A. from the Manchester Business School, Parker is not the first Dow CEO to be born outside the U.S. Zoltan Merszei, CEO between 1976 and 1978, was a native of Budapest, Hungary, and a Canadian citizen. Paul F. Oreffice, Dow's CEOfrom1978 to 1987, was born in Italy. Popoff, CEO from 1987 to 1995, nounced the acquisition was born in Bulgaria. last August (C&EN, Aug. Parker has been on Dow's board of 9, 1999, page 4), Joyce directors since 1995. He began his cawas to join the Dow board reer with Dow in 1968, joining the comof directors as a vice chair- pany's organic research and developman. One other member ment team in Freeport, Texas. He of the Carbide board was moved to Birmingham, England, for also to join the Dow Dow in 1972 in field sales. In 1977, he board. became product marketing manager for When Parker, who epoxy resins at Dow Europe; subsequendy, he served in a series of positions with increasing responsibility in Clockwise from top: Europe until he became general managParker, Stavropoulos, er of the specialty chemicals departand Reinhard ment in Midland, Mich., in 1984. Like DuPont's chairman and CEO, Charles 0. (Chad) Holliday Jr., who was based in Tokyo for seven years as head of DuPont's Asia-Pacific operations, Parker also has considerable experience in the growing Asian market. Parker moved to Hong Kong in 1987 as commercial vice president of Dow Pacific, and in 1988 he became president of Dow Pacific. In 1993, he returned to Midland as group vice president for chemicals and hydrocarbons and became president of Dow North America with global responsibilities for chemiwas born in Liverpool, England, be- cals in 1995. He has been an executive comes president and CEO, Dow, with vice president since 1996. the inclusion of Union Carbide, will likeMarc Reisch
CHANGES AT THE TOP
Dow Chemical announces its new, homegrown top management team
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his fall, Dow Chemical will have a new executive lineup with Michael D. Parker, currently executive vice president and president of Dow North America, at the helm. However, despite a spate of announcements, Dow delayed full disclosure of the company's new structure and management assignments pending receipt of government approvals necessary for completion of its acquisition of Union Carbide. What is clear is that, on Nov. 1, Parker, 53, will become president and CEO, responsible for Dow's day-to-day operations. Dow's president and CEO for the past five years, William S. Stavropoulos, 60, will become chairman of the board, replacing Frank P. Popoff, 65, who will retire. In addition, J. Pedro Reinhard, 54, executive vice president and chief financial officer, will assume additional responsibilities for Dow AgroSciences and corporate strategic planning and initiatives. While Reinhard increases his responsibilities, Executive Vice President Anthony J. Carbone, 59, will begin to relinquish operating responsibilities on Nov. 1 as part of the "deceleration" process to which senior Dow executives traditionally acquiesce as they reach their 60th birthdays. Carbone becomes a vice chairman effective immediately. Stavropoulos, Carbone, Parker, and Reinhard are to oversee the integration of Dow with Union Carbide. The new management structure will also include William H. Joyce, Carbide's chairman and CEO. When Dow an-
while a newcomer lands in DuPont's number-two slot ollowing a series of management changes, the second in command at DuPont is now a former consultant and airline industry executive who joined the company only last year. Richard R. Goodmanson, 52, a DuPont executive vice president and chief operating officer since May 1999, will become the company's sole COO, with overall responsibility for all of DuPont's strategic business units, excluding pharmaceuticals.
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Goodmanson will add responsibility for the businesses currently reporting to co-COO Dennis H. Reilley, 46, who is leaving the company. Kurt M. Landgraf, 52, continues as chief executive officer of DuPont Pharmaceutical. DuPont's decision to hire Goodmanson away from the helm of America West Airlines last year made news because he was the first outsider ever to be named to a senior leadership position at the company. FEBRUARY 21,2000 C&EN
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