Dow Appointing 4 Independent Directors To Temporarily End Third Point Dispute

摘要

Midland— Dow Chemical Co. has agreed to appoint four independent directors to its board, averting a proxy battle threatened by hedge fund Third Point LLC, which became one of Dow's largest investors earlier this year (PCN, 27 Jan 2014, p 2). Third Point has suggested Dow should explore spinning off its petrochemical business to drive greater stakeholder value, and last month launched a website accusing Dow of broken promises and falling behind its competitors.