Dow Chemical's CEO William Stavropoulos on structure and decision making

Abstract

Executive Overview Dow Chemical Corporation is the fifth largest chemical company in the world, with annual sales of more than $20 billion. The firm provides more than 2,400 product families and services, including chemicals, plastics, energy, argricultural products, and environmental services. Headquartered in Midland, Michigan, Dow operates 115 manufacturing sites in 37 countries, and employs 43,000 people. Throughout its 100-year history, the company has focused heavily on research and development and has created such well-known products as Saran Wrap, ziploc plastic bags, and Spray'n Wash stain stick, and Glass Plus multisurface cleaner, as well as many industrial products. The company has won a host of awards, including the National Safety Council award for Distinguished Achievement in Occupational Safety and Health and has been named by Fortune magazine as one of the country's top 10 environmental champions. Dow has been restructuring its product lines and focusing on chemistry-related businesses in order to achieve its mission for the 21st century: to be the most productive, best value growth chemical company in the world. In pursuit of this mission, the company is in the process of acquiring the Union Carbide Company. William S. Stravopoulos is the president and chief executive officer of Dow Chemical. He holds a bachelor's degree in pharmaceutical chemistry from Fordham University and a doctorate in medicinal chemistry from the University of Washington. His career with Dow began in Indianapolis in 1967 when he joined the firm as a research chemist. He became director of marketing for the Dow U.S.A. Plastics Department in 1979, and was named commercial vice president for Dow Latin America in 1980. He became president and chief operating officer in April 1993, and was appointed CEO on November 1, 1995. He is a board member of the American Plastics Council, Bell South Corporation, and Chemical Bank. The following interview conveys his views on decision making and structuring in the company and concludes with an update on the acquisition of Union Carbide.