September 4, 2012 / 2:12 PM / 6 years ago

Dow Chemical to rejig business structure

(Reuters) - Dow Chemical Co DOW.N said it will rejig its business structure and appoint business presidents who will be accountable for the company’s operations.

The company said it will eliminate the current business division structure effective immediately, and move to a global business unit model that will have business presidents.

The business presidents, who will be named later this week, will report to a five-member executive committee that includes Chief Executive Andrew Liveris and Chief Financial Officer Bill Weideman.

Shares of Dow Chemical closed at $29.31 on Friday on the New York Stock Exchange.

(This story corrected number of members of executive committee in the third paragraph)

Reporting by Divya Lad; Editing by Supriya Kurane

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