Andrew N. Liveris
Encyclopedia
Andrew Liveris is a Greek
-Australia
n-American
executive from Australia
and is the Chairman, CEO and President
of The Dow Chemical Company based in the United States
. He recently released his first book, "Make it in America: The Case for Re-Inventing The Economy", which has received wide publicity and praise in the business world. Although he is based in the United States
, he is not an American citizen.
, Northern Territory
, Australia
, and attended Brisbane State High School
before attending the University of Queensland
where he studied chemical engineering
. After graduating with first class honours in 1976, Liveris joined The Dow Chemical Company in Melbourne
, Australia. He and his wife, Paula, have three children.
. Liveris succeeded William Stavropoulos as CEO in 2004, after holding the position of Chief Operating Officer
.
Liveris' 30-year Dow career has spanned manufacturing, sales, marketing, new business development and management. He has spent the bulk of his career in Asia, where he was general manager for the company's operations in Thailand, and later head of all Asia-Pacific operations.
He has been a member of Dow's Board of Directors since February 2004 and Chairman of the Board since April 1, 2006.
Under Liveris' reign as CEO, Dow was ranked 15th on Corporate Responsibility Officer (CRO) Magazine's list of top 100 best corporate citizens of 2008.
Liveris’ strongest move to implement the strategy came with the purchase of Rohm and Haas
in the summer of 2008 for $16.2 billion. This Fortune 500 company, a leader in specialty chemicals, was the subject of a global auction, which Dow won with a bid of $16.2 billion. The acquisition proved to be synergistic in terms of growth, allowing a broader and deeper presentation to clients with regard to value-added chemicals, plastics and materials, but also in terms of costs.
The acquisition closed soon after the credit crisis of 2007 and 2008 took hold. The credit crisis caused one of Dow’s joint venture partners, Kuwait's Petrochemical Industries, to withdraw from a planned partnership in basic plastics, despite an agreed contract, depriving Dow of $9 billion in proceeds designated to fund the Rohm and Haas deal. The matter remains in arbitration.
In March 2009, Liveris and his management team organized a plan to implement the Rohm and Haas integration, focusing on growth and cost synergies, but also reducing costly debt from the transaction through public offerings, along with equity offers. The plan also called for the divestiture of non-strategic assets, which was accomplished through a sales process that assured maximum valuation.
Liveris has continued to form joint ventures for the basics business, his most recent initiative in chlor-alkali with the Mitsui Group in Japan as a partner.
The recovery plan has been accompanied by a sixfold recovery in the share price.
and a Fellow
of The Institute of Chemical Engineers.
Liveris is the chairman of the board of the American Chemistry Council
and of the International Council of Chemical Associations.
On June 24, 2011, Liveris was appointed Co-Chair of U.S. President Barack Obama
’s Advanced Manufacturing Partnership in the United States.
On February 23, 2010, Liveris joined IBM
's board of directors. He was selected because of his extensive expertise in operating in Asian markets.
He is also a trustee of Tufts University
and a board member of the Herbert H. and Grace A. Dow Foundation.
Greece
Greece , officially the Hellenic Republic , and historically Hellas or the Republic of Greece in English, is a country in southeastern Europe....
-Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
n-American
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
executive from Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
and is the Chairman, CEO and President
President
A president is a leader of an organization, company, trade union, university, or country.Etymologically, a president is one who presides, who sits in leadership...
of The Dow Chemical Company based in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. He recently released his first book, "Make it in America: The Case for Re-Inventing The Economy", which has received wide publicity and praise in the business world. Although he is based in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, he is not an American citizen.
Early life and family
Andrew Liveris was born in DarwinDarwin, Northern Territory
Darwin is the capital city of the Northern Territory, Australia. Situated on the Timor Sea, Darwin has a population of 127,500, making it by far the largest and most populated city in the sparsely populated Northern Territory, but the least populous of all Australia's capital cities...
, Northern Territory
Northern Territory
The Northern Territory is a federal territory of Australia, occupying much of the centre of the mainland continent, as well as the central northern regions...
, Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
, and attended Brisbane State High School
Brisbane State High School
Brisbane State High School is a partially selective, co-educational, state secondary school, located in Brisbane, Queensland, Australia. It is a member of the Great Public Schools' Association of Queensland, and the Queensland Girls' Secondary Schools Sports Association...
before attending the University of Queensland
University of Queensland
The University of Queensland, also known as UQ, is a public university located in state of Queensland, Australia. Founded in 1909, it is the oldest and largest university in Queensland and the fifth oldest in the nation...
where he studied chemical engineering
Chemical engineering
Chemical engineering is the branch of engineering that deals with physical science , and life sciences with mathematics and economics, to the process of converting raw materials or chemicals into more useful or valuable forms...
. After graduating with first class honours in 1976, Liveris joined The Dow Chemical Company in Melbourne
Melbourne
Melbourne is the capital and most populous city in the state of Victoria, and the second most populous city in Australia. The Melbourne City Centre is the hub of the greater metropolitan area and the Census statistical division—of which "Melbourne" is the common name. As of June 2009, the greater...
, Australia. He and his wife, Paula, have three children.
Current occupation
Liveris is President, Chief Executive Officer (CEO) and Chairman of Dow Chemical, a $58 billion global chemical and plastics manufacturer based in Midland, MichiganMidland, Michigan
Midland is a city in the U.S. state of Michigan in the Tri-Cities region of the state. It is the county seat of Midland County. The city's population was 41,863 as of the 2010 census. It is the principal city of the Midland Micropolitan Statistical Area....
. Liveris succeeded William Stavropoulos as CEO in 2004, after holding the position of Chief Operating Officer
Chief operating officer
A Chief Operating Officer or Director of Operations can be one of the highest-ranking executives in an organization and comprises part of the "C-Suite"...
.
Liveris' 30-year Dow career has spanned manufacturing, sales, marketing, new business development and management. He has spent the bulk of his career in Asia, where he was general manager for the company's operations in Thailand, and later head of all Asia-Pacific operations.
He has been a member of Dow's Board of Directors since February 2004 and Chairman of the Board since April 1, 2006.
Under Liveris' reign as CEO, Dow was ranked 15th on Corporate Responsibility Officer (CRO) Magazine's list of top 100 best corporate citizens of 2008.
Restructuring Dow
Liveris, appointed CEO in 2004 after the Board of Directors unanimously selected him in part based upon his plan to transform Dow, began to implement the new strategy. His plan called for Dow to reinforce its core strengths in providing its clients with customized chemicals, plastics and advanced materials (including electronics and agricultural products such as genetically improved seeds). The plan also called for reducing Dow’s exposure to commodity chemical and plastics, which were subject to competition especially from new entrants from the Middle East and Asia, who benefit from cost advantages. Part of the plan to “de-risk” the business called for the formation of joint ventures to free up Dow capital for deployment in more specialized areas of the business as cited above. The formation of joint ventures had the further virtue of assuring a low cost supply of feed stocks for the customer-facing portion of Dow’s business. Dow has fully exited some basic chemical and plastic business (as with the sale of Styron).Liveris’ strongest move to implement the strategy came with the purchase of Rohm and Haas
Rohm and Haas
Rohm and Haas Company, a Philadelphia, Pennsylvania based company, manufactures miscellaneous materials. Formerly a Fortune 500 Company, Rohm and Haas employs more than 17,000 people in 27 countries, with its last sales revenue reported as an independent company at USD 8.9 billion. On July 10,...
in the summer of 2008 for $16.2 billion. This Fortune 500 company, a leader in specialty chemicals, was the subject of a global auction, which Dow won with a bid of $16.2 billion. The acquisition proved to be synergistic in terms of growth, allowing a broader and deeper presentation to clients with regard to value-added chemicals, plastics and materials, but also in terms of costs.
The acquisition closed soon after the credit crisis of 2007 and 2008 took hold. The credit crisis caused one of Dow’s joint venture partners, Kuwait's Petrochemical Industries, to withdraw from a planned partnership in basic plastics, despite an agreed contract, depriving Dow of $9 billion in proceeds designated to fund the Rohm and Haas deal. The matter remains in arbitration.
In March 2009, Liveris and his management team organized a plan to implement the Rohm and Haas integration, focusing on growth and cost synergies, but also reducing costly debt from the transaction through public offerings, along with equity offers. The plan also called for the divestiture of non-strategic assets, which was accomplished through a sales process that assured maximum valuation.
Liveris has continued to form joint ventures for the basics business, his most recent initiative in chlor-alkali with the Mitsui Group in Japan as a partner.
The recovery plan has been accompanied by a sixfold recovery in the share price.
Other positions
Liveris is a Chartered EngineerChartered Engineer (UK)
In the United Kingdom, a Chartered Engineer is an engineer registered with Engineering Council UK . Contemporary Chartered Engineers are master's degree-qualified and have gained professional competencies through training and experience...
and a Fellow
Fellow
A fellow in the broadest sense is someone who is an equal or a comrade. The term fellow is also used to describe a person, particularly by those in the upper social classes. It is most often used in an academic context: a fellow is often part of an elite group of learned people who are awarded...
of The Institute of Chemical Engineers.
Liveris is the chairman of the board of the American Chemistry Council
American Chemistry Council
The American Chemistry Council , formerly known as the Manufacturing Chemists' Association and then as the Chemical Manufacturers' Association , is an industry trade association for American chemical companies, based in Washington, D.C.-Activities:The mission of the American Chemistry Council is...
and of the International Council of Chemical Associations.
On June 24, 2011, Liveris was appointed Co-Chair of U.S. President Barack Obama
Barack Obama
Barack Hussein Obama II is the 44th and current President of the United States. He is the first African American to hold the office. Obama previously served as a United States Senator from Illinois, from January 2005 until he resigned following his victory in the 2008 presidential election.Born in...
’s Advanced Manufacturing Partnership in the United States.
On February 23, 2010, Liveris joined IBM
IBM
International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
's board of directors. He was selected because of his extensive expertise in operating in Asian markets.
He is also a trustee of Tufts University
Tufts University
Tufts University is a private research university located in Medford/Somerville, near Boston, Massachusetts. It is organized into ten schools, including two undergraduate programs and eight graduate divisions, on four campuses in Massachusetts and on the eastern border of France...
and a board member of the Herbert H. and Grace A. Dow Foundation.
Awards and recognition
- In 2005, Liveris received an honorary doctorateDoctorateA doctorate is an academic degree or professional degree that in most countries refers to a class of degrees which qualify the holder to teach in a specific field, A doctorate is an academic degree or professional degree that in most countries refers to a class of degrees which qualify the holder...
from his alma materAlma materAlma mater , pronounced ), was used in ancient Rome as a title for various mother goddesses, especially Ceres or Cybele, and in Christianity for the Virgin Mary.-General term:...
, the University of Queensland and was named Alumnus of the Year for 2005. - In 2007, Liveris received the Premier of Queensland's Expatriate Achievement Award at the Queensland Expatriate AwardsQueensland Expatriate AwardsThe Queensland Expatriate Awards, are the most prominent awards to expatriates from the state of Queensland Australia who are living around the world....
at the Rainbow RoomRainbow RoomThe Rainbow Room was an upscale restaurant and nightclub on the 65th floor of the GE Building in Rockefeller Center, Midtown Manhattan, New York City.-Cuisine:...
in New YorkNew YorkNew York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
. - In August 2009, Liveris was personally thanked by the two American journalists who were imprisoned in North Korea. Apparently he provided ex President Bill ClintonBill ClintonWilliam Jefferson "Bill" Clinton is an American politician who served as the 42nd President of the United States from 1993 to 2001. Inaugurated at age 46, he was the third-youngest president. He took office at the end of the Cold War, and was the first president of the baby boomer generation...
with the transportation for the Americans. - In March 2010, Liveris reported a first quarter 48.9% sales increase at Dow Chemical. He attributed his success to accelerated growth in performance business, including advanced polymers in the textile, health care, electronic, and agricultural industries.