Dow Inc. (DOW, Financial) has announced the appointment of Karen S. Carter to the newly created position of Chief Operating Officer, effective December 3, 2024. This strategic move, approved by the company's Board of Directors on November 26, 2024, is aimed at driving business and operational performance across the organization.
In her new role, Ms. Carter will report directly to Jim Fitterling, Dow's Board Chair and Chief Executive Officer, and will continue to serve as an executive officer of the company. Her responsibilities will include strengthening customer engagement and relationships, accelerating the commercialization of Dow's innovation pipeline, and enhancing the company's reliability and service to customers. Additionally, she will oversee Dow's business operating segments and several functional organizations within the company.
Ms. Carter, who joined Dow in 1994, has held various roles of increasing responsibility in business operations, sales and marketing, human resources, and general management. Her extensive global business leadership experience includes serving as President of Dow's Packaging & Specialty Plastics business segment since November 2022, and as Dow's Chief Human Resources Officer and Chief Inclusion Officer from April 2019 to November 2022.
As Chief Operating Officer, Ms. Carter will receive an annual base salary of $975,000 and will be eligible for Dow's annual cash incentive program with a target award of 120% of her base salary. She will also participate in Dow's long-term incentive compensation program, which includes equity-based awards with a target award value of $5.2 million, anticipated to be granted in February 2025.
There are no arrangements or understandings between Ms. Carter and any other persons regarding her election as Chief Operating Officer, and there are no family relationships between her and any of the company's directors or executive officers. Furthermore, there are no transactions involving Ms. Carter that require disclosure under Item 404(a) of Regulation S-K.
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