Momentive has opted not to move ahead with a proposal to rework its loan and credit line while issuing $500 million in new senior debt, according to an SEC filing. The filing does not indicate that any other financing moves will be made. Moody's Investors...
Geoffery Merszei, president of Dow Chemical's Europe, Middle East, and Africa region, will resign from the company's board of directors, effective December 31, according to a recent...
Openness in talking about weaknesses and shortcomings, as well as the reality of business is key in managing human resources in a time of crisis, says Zhengrong Liu, svp/human resources (HR) of Lanxess says in CW’s October 21 webcast “Managing...
King Abdullah University of Science and Technology (Kaust) and Dow Chemical have announced plans to establish the Dow Middle East R&D Center at the university's adjacent research park and innovation cluster. Kaust, inaugurated on September 23, 2009, is...
Society of Chemical Manufactures and Affiliates (Socma; Washington, DC) president Joe Acker will retire by the end of this year, the group announced today. Acker, who had previously worked at FMC Corporation and Bayer, became president of...
Pierre Brondeau, CEO of Dow's Advanced Materials segment, is retiring and will be replaced by Jerome Peribere, currently CEO of Dow AgroSciences, the company says. Antonio Galindez, currently v.p. of Dow AgroSciences' crops business unit, will succeed...
A number of leading chemical companies are making cuts in marketing capabilities, an industry source told CW. Such cuts are generally in line with industry-wide reductions, and company spokespeople note that marketing is not being specifically targeted...
The chemical industry has lost 32,700 jobs, or about 3.8% of its workforce, since the start of the recession in December 2007, says Kevin Swift, senior economist at ACC. However, the industry’s jobless rate is not as steep as that of the overall...
DuPont initiated unpaid leave on April 13, asking thousands of salaried workers worldwide to voluntarily take at least two weeks off, according to the Wilmington News-Journal, which broke the story yesterday and which DuPont has confirmed. DuPont’s 75...
The economic turmoil has brought about a dramatic shift in senior management’s business challenges as cutting and managing costs, frequently with huge layoffs, have become top priorities. Analysts say that sound talent management is in danger of...
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