10 December 2012 10:18 [Source: ICIS news]
LONDON (ICIS)--Dow Chemical CEO Andrew Liveris heads the ICIS Top 40 Power Players for 2012 listing published on Monday in ICIS Chemical Business (ICB).
Liveris came top in the ICIS ranking of chemical industry leaders who are changing the face of sector through investments, acquisitions, restructuring and innovative ways of doing business.
Liveris is leading an executive team and a company that is placing big bets in the most cost-advantageous feedstock regions in the world - the Middle East and the US. He is driving a $1bn (€780m) cost saving plan designed to help Dow to weather current economic headwinds.
Dow’s attention is focused on feedstock advantaged projects in North America and the giant $20bn Sadara project in Saudi Arabia. Meanwhile, it is slashing total capital spending, halting new business growth spending, closing 23 plants and planning to cut 8% of its global workforce.
“The Dow team is aligned and our priorities are clear,” Liveris said in a press statement.
“We moved swiftly in 2012 and took action to protect our growth path and continue to be squarely focused on ensuring an aggressive ‘offense’. “We are capitalising on the world-class, integrated portfolio we have built, and key catalysts we already have in place to accelerate near-term value growth. Execution of our strategy is top priority and we remain firmly committed to further strengthening our balance sheet, accelerating prioritised growth, and rewarding shareholders,” he added.
“Headed into an uncertain period in 2013 fraught with political and macroeconomic risks amid slowing growth, these leaders face a great challenge in guiding their businesses through the turmoil.”
Coming in at number two in the ICIS Top 40 Power Players ranking is Tom Crotty, CEO of Switzerland-based INEOS Olefins & Polymers, followed by Axel Heitmann, CEO of Germany’s LANXESS.
To download the ICIS Top 40 Power Players on ICIS click here.
($1 = €0.78)
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