MOSCOW (MRC) -- The Dow Chemical Company (NYSE: DOW) has announced that Fernando Ruiz, corporate vice president and treasurer, has elected to retire from Dow, following more than 35 years of service. The Board of Directors has elected Gary McGuire to succeed him as vice president and treasurer, said the company in its press release.
Ruiz assumed his role in August 2001, and will officially retire later this year to ensure a smooth transition of leadership responsibilities.
McGuire joined Dow in 1988 and has held a variety of financial management and leadership roles in materials management, treasury, financial and enterprise-wide risk management, and financial planning and operations. He was named chief investment officer in 2007, responsible for the management of the Company’s global pension and insurance assets and was appointed assistant treasurer in January 2016.
"Gary has been instrumental in driving financial discipline, transparency and efficiency, and brings a broad array of experience and management across multiple disciplines and geographies," said Howard Ungerleider, Dow’s vice chairman and chief financial officer. "I am pleased to have his focused leadership as we continue to drive our strategic agenda forward."
As MRC informed before, in early February 2016, Dow Chemical CEO Andrew Liveris said he would retire by mid-2017, following the merger of the company with fellow chemical and seeds producer DuPont. DuPont CEO Edward Breen is set to head the combined company after the merger, while Liveris will be the executive chairman after the deal closes in the second half of 2016.
The Dow Chemical Company is an American multinational chemical corporation. Dow is a large producer of plastics, including polystyrene, polyurethane, polyethylene, polypropylene, and synthetic rubber. In 2015, Dow had annual sales of nearly USD49 billion and employed approximately 49,500 people worldwide. The Company's more than 6,000 product families are manufactured at 179 sites in 35 countries across the globe.
MRC