Dow Chemical CEO Robert Hansen To Retire After Corning Deal

(RTTNews) - Dow Chemical Co. (DOW) and Dow Corning Corp. Monday announced the retirement plan of Robert Hansen as chairman, chief executive officer and president upon the completion of Dow's ownership restructure transaction with Corning, Inc.

Hansen will ensure a smooth ownership transition for the Dow Corning Silicones business. The deal is expected to close in the second quarter of 2016. Hansen has been with the company since 1982 and was named president in 2010, chief executive officer in 2011 and was elected chairman in 2013.

Dow has named Howard Ungerleider, vice chairman and chief financial officer of Dow as chairman of Dow Corning, and Mauro Gregorio, currently vice president leading the Dow Corning integration, as chief executive officer of Dow Corning.

Until the close of the transaction, Hansen, Ungerleider and Gregorio will maintain their current roles and responsibilities.