MIDLAND, MI – Dow (NYSE:DOW) has announced the immediate appointment of Karen S. Carter as the new Chief Operating Officer. Carter, who has been with the company since 1994, brings over 30 years of experience within Dow to her new role. As COO, she will oversee Dow’s business operating segments, including Packaging (NYSE:) & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings.
Carter’s (NYSE:) responsibilities will extend to driving business and operational performance, with an emphasis on enhancing customer engagement and accelerating the commercialization of Dow’s innovation pipeline. Her strategic oversight will also encompass the Integrated Supply Chain, Purchasing, Information Systems, and Commercial organizations, which will now align under her leadership. She takes the helm as Dow maintains a robust annual revenue of $43.18 billion and rewards shareholders with a substantial 6.9% dividend yield.
Jim Fitterling, Dow Chair and CEO, highlighted Carter’s track record of strong business results and her ability to maintain close relationships with partners and customers. Fitterling expressed confidence in Carter’s capabilities to drive growth and value creation across Dow’s operating segments.
Previously, Carter led Dow’s Packaging & Specialty Plastics segment, where she oversaw significant expansions and the launch of innovative, sustainable product lines. She also played a role in the acquisition of Circulus and the development of strategic partnerships to scale circular feedstock supply.
Carter’s career at Dow has encompassed various leadership positions across business operations, sales and marketing, and human resources. Her international experience and global business leadership have been instrumental in her progression within the company.
In addition to her role at Dow, Carter serves on the board of directors for Southwire and the Great Lakes Bay Region Boys and Girls Clubs of America. She chairs the Business Leaders Committee on Michigan’s Black Leadership Advisory Council and holds positions with the Executive Leadership Council and Catalyst Board of Advisors.
Dow, a leading materials science company, operates in 31 countries and employs approximately 35,900 people. In 2023, the company reported sales of around $45 billion. This news is based on a press release statement.
In other recent news, Dow Inc (NYSE:). has been the subject of several analyst adjustments. Evercore ISI upgraded Dow to Outperform, setting a price target of $56, while Piper Sandler reduced its target to $60 but retained an overweight rating. Mizuho (NYSE:) raised its price target to $56, and Jefferies lowered its target to $53, both maintaining a neutral stance.
In terms of financial performance, Dow reported a modest 1% year-over-year increase in net sales for the third quarter of 2024, amounting to $10.9 billion, and an operating EBIT of $641 million. However, the company saw a decrease in cash flow from operations to $800 million, primarily due to an increase in inventories.
Dow also made significant strategic moves recently. The company sold a 40% stake in certain U.S. Gulf Coast infrastructure assets to Macquarie Asset Management for $2.4 billion, aligning with its initiative to optimize its global asset portfolio. Furthermore, Dow is conducting a strategic review of its European Polyurethanes assets, with results expected by mid-2025.
Despite facing challenges such as high energy costs and slower demand affecting European margins, Dow aims to achieve over $3 billion in additional annual earnings by 2030, backed by strategic asset management and investments. These recent developments highlight the company’s ongoing strategic adjustments and financial performance.
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