DowDuPont executive chairman Andrew Liveris to leave

CEO of The Dow Chemical Company Andrew N. Liveris gestures as he speaks during a panel'Size matters The Future of Big Business at the'World Economic Forum in Davos Switzerland. DowDuPont’s Liveris is leavi

He will give up his executive chairmanship in April, and his role as director in July, when he officially retires.

Jeff Fettig, co-lead independent director for DowDuPont, will take over as executive chairman.

Mr. Liveris, 63, had previously said that he would most likely leave the company this year. Fitterling current is chief operating officer, according to a company news release.

Dow and DuPont completed the $130 billion merger in September. "Andrew is truly a global CEO in every sense of the term, and his leadership not only at Dow, but across the entire business community, will be felt for decades".

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US chemicals producer DowDuPont Inc's DWDP.N executive chairman Andrew Liveris will step down on April 1 and its co-lead director Jeff Fettig will assume Liveris's role at the company, the Wall Street Journal reported on Monday.

Liveris, who has led Dow Chemical Co. for 14 years, guided the company through a severe spike in energy prices in 2007-08 (petrochemicals as a major cost for chemical producers), as well as the global economic crisis that followed, nearly upending the company founded late in the 19th century. "We have aggressively invested in R&D and radically transformed our portfolio of businesses while proudly maintaining our commitment to our heritage and values", Liveris said. Both men are Dow veterans and have worked extensively on the merger.

He was born in Darwin, Australia, and graduated from the University of Queensland in Brisbane with a bachelor's degree in chemical engineering.

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