Dow Chemical CEO Andrew Liveris wins ICIS Kavaler award

Will Beacham

28-Oct-2015

NEW YORK (ICIS)–Dow Chemical chairman and CEO Andrew Liveris has been presented with the ICIS Kavaler award, sponsored by The Chemists’ Club and in association with The Valence Group, in recognition for outstanding and newsworthy achievement.

The distinguishing feature of this award is that the winner is selected by his/her peers in the ICIS Top 40 Power Players listing, a global ranking of the leaders making the greatest impact in the chemical industry.

The award was presented by ICIS and The Chemists’ Club at a black-tie dinner ceremony with around 300 attendees on Tuesday this week at the New York Public Library, Stephen A Schwarzman Building.

“I am proud to accept this honour on behalf of all Dow people who work every day to create lasting value for our owners, our customers and all of our stakeholders,” said Liveris at the New York Dinner.

“Under Mr. Liveris’ leadership, Dow is making major capital investments in cost-advantaged countries in the US and Saudi Arabia, while divesting non-core assets. Dow’s merger of its chlorine and derivatives business – in a tax advantaged structure with Olin – was a landmark deal for Dow, bringing in $5bn in post-tax value, and cutting exposure to certain commodities,” said Joseph Chang, global editor of ICIS Chemical Business.

Dow’s Sadara joint venture with Aramco in Saudi Arabia is the largest integrated chemical project in history, and will start up in stages later in 2015 and through 2016.

On the US Gulf Coast, Dow is in the process of starting up its propane dehydrogenation (PDH) plant, and plans to complete its world-scale cracker and derivatives project by 2017.

Additional moves involving Dow’s joint ventures and its AgroSciences business are under way to further unlock value and streamline Dow’s portfolio, said Chang.

In the award selection process, ICIS and The Chemists’ Club invited each of the ICIS Top 40 Power Players for 2014 to vote for three individuals in a ballot, based on newsworthy achievements in one or more of the following categories: profitability/shareholder value, mergers and acquisitions (deals or integration), projects/capital investment and innovation – technology, product, business process with an impact on industry and society.

The award also honours Arthur Kavaler, who served for 46 years as reporter, editor and eventually publisher of Chemical Market Reporter – one of the three publications incorporated into ICIS Chemical Business. Kavaler, a probing editor with unwavering conviction, passed away at the age of 91 on January 18, 2012.

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