DuPont and The Dow Chemical Company announced the members of the Board of Directors for the proposed merger of equals transaction of the two companies.
 
As determined by the merger agreement, the DowDuPont Board will consist of 16 directors – eight current Dow directors and eight current DuPont directors, as follows:
 
From Dow:
• Andrew N. Liveris, chairman and CEO, The Dow Chemical Company
• Jeff M. Fettig, chairman and CEO, Whirlpool Corporation*
• James A. Bell, former CFO, Boeing
• Raymond J. Milchovich, former chairman and CEO, Foster Wheeler
• Paul Polman, CEO, Unilever
• Dennis H. Reilley, non-executive chairman, Marathon Oil Corp.
• James M. Ringler, chairman, Teradata Corporation
• Ruth G. Shaw, former group executive, public policy and president, Duke Nuclear
 
From DuPont:
• Edward D. Breen, chair and CEO, DuPont
• Alexander (Sandy) M. Cutler, former chairman and CEO of Eaton*
• Lamberto Andreotti, former chair of the Board and CEO of Bristol-Myers Squibb
• Robert A. Brown, president of Boston University
• James L. Gallogly, former chairman of the Management Board and CEO of LyondellBasell Industries N.V.
• Marillyn A. Hewson, chairman, president, and CEO of Lockheed Martin Corporation
• Lois D. Juliber, former vice chairman and COO of Colgate-Palmolive Company
• Lee M. Thomas, former chairman and CEO of Rayonier
*Co-Lead Director of DowDuPont
 
The appointments will be effective upon completion of the proposed merger transaction.
 
“Today’s announcement is another significant milestone in our progress to complete this value-creating transaction,” said Liveris. “Each of these executives brings decades of experience to the Board of DowDuPont, and we look forward to working with this world-class Board to help capture the committed synergies and drive the intended spins as swiftly as possible.”
 
“The DowDuPont board of directors will be composed of highly accomplished leaders who are intently focused on the creation of long-term value for shareholders,” said Breen.
 
As previously disclosed, the companies will include a leading global pure-play Agriculture company; a leading global pure-play Materials Science company; and a leading technology and innovation-driven Specialty Products company.
 
The companies reaffirm their expectation for closing of the merger to occur between August 1, 2017 and September 1, 2017, with the intended spin-offs to occur within 18 months of closing.