Dow Chemical Co. said Monday it has shifted some executives as part of an effort to focus on some of its most profitable business lines.
The changes come after mixed second-quarter results. The nation's largest chemical maker earned $566 million in the second quarter on increased demand and higher prices. That was up from a $486 million loss a year ago, but still below Wall Street's expectations. Analysts expected more growth in Dow's performance businesses, a collection of higher margin products like chemicals for consumer electronics and agricultural uses.
On Tuesday, Dow said Juan Luciano, currently senior vice president of basic plastics, hydrocarbons and energy, has been named president of the performance division, overseeing its performance products.
Jim Fitterling, senior vice president of corporate development, has been named president of plastics and hydrocarbons.
Carol Williams, senior vice president of basic chemicals, adds the energy business to her responsibilities as president of the chemicals and energy division.
Jim McIlvenny, senior vice president of performance products, has been named group senior vice president of mega projects. He will have full responsibility for some of Dow's biggest projects, including a proposed joint venture to build a manufacturing facility in Saudi Arabia, and the proposed Yulin Integrated Chemicals project in China.
Dow shares fell 11 cents to $25.05 in afternoon trading.
