MOSCOW (MRC) -- James (Jim) R. Fitterling becomes President and Chief Operating Officer of The Dow Chemical Company, a global material science company with 2014 annual sales of more than USD58 billion. He is a member of the Office of the Chairman and CEO, said the producer on its site.
As a member of Dow’s most senior leadership, Fitterling has played a key role in developing and executing Dow’s strategy to invest in a market-driven portfolio of advantaged and technology-enabled businesses that create value for our shareholders and customers.
Fitterling joined Dow in 1984 and served in a variety of Sales, Marketing and Supply Chain positions before being named Commercial Director for Liquid Separations, Dow Pacific in 1994. He was appointed Global Business Director for Liquid Separations and President and CEO of FilmTec Corporation, a wholly owned subsidiary of The Dow Chemical Company in 1998. In 2000, he was named General Manager for Dow Thailand and Managing Director for the SCC-Dow Group of joint venture companies.
In 2002, Fitterling was named CEO of The OPTIMAL Group, affiliate of Petroliam Nasional Berhad (Petronas), Malaysia's state-owned oil corporation and The Dow Chemical Company. He added responsibility for the Southeast Asia and Australia region in February 2004. He also served as the Vice President of the Malaysian International Chamber of Commerce and Industry (MICCI) and was the Dow Representative to U.S. ASEAN Business Council.
Fitterling was named Business Vice President for Polyethylene in December 2005; President, Basic Plastics in March 2007; Vice President of Corporate Development in April 2009; Senior Vice President of Corporate Development in April 2010; Executive Vice President of The Dow Chemical Company & President, Plastics & Hydrocarbons in August 2010; and Executive Vice President of The Dow Chemical Company & President, Corporate Development & Hydrocarbons in March 2011. Fitterling assumed additional executive oversight of the Company’s Chemicals & Energy Division in August 2011, in addition to his existing executive role for Corporate Development and Hydrocarbons. In September 2012, he assumed executive oversight for Feedstocks, Performance Plastics. Fitterling was named Vice Chairman, Business Operations in 2014. He was named to his current role in October 2015.
Fitterling is a member of the Board of Directors of Chemical Financial Corporation and a member of the Board of Directors of Sadara Chemical Company.
As MRC reported earlier, in November 2014, The Dow Chemical Company announced an increased divestiture target aligned to further enhance the value of its portfolio and support the company’s market-driven, integrated strategy. On track to complete its goal of realizing USD4.5 billion to USD6 billion in proceeds by year-end 2015, and with additional portfolio management actions underway, Dow increased its divestiture target to USD7 billion to USD8.5 billion to be complete by mid-2016. Since 2013, the company generated USD2.5 billion in proceeds, reallocating this capital to remunerate shareholders, fund growth and reduce debt.
The Dow Chemical Company is an American multinational chemical corporation. As of 2007, it is the second-largest chemical manufacturer in the world by revenue (after BASF) and as of February 2009, the third-largest chemical company in the world by market capitalization (after BASF and DuPont). Dow is a large producer of plastics, including polystyrene, polyurethane, polyethylene, polypropylene, and synthetic rubber.
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