The Dow Chemical Company (NYSE: DOW) today announced that Ajay Banga, president and chief executive officer of MasterCard, has been elected to Dow’s Board of Directors, effective immediately.
Prior to joining MasterCard in 2009, Banga was chief executive officer of Citigroup Asia Pacific. During his tenure at Citigroup, he held a variety of senior management roles in the United States, as well as Asia Pacific, Europe, and Middle East and Africa regions. Mr. Banga also has extensive experience with consumer goods companies, including Nestle and Pepsico. From 2007 to 2012, Banga served on the board of directors of Kraft Foods.
“Ajay Banga brings to Dow an exceptional understanding of key international markets, as well as the financial sector and a variety of downstream, consumer-facing businesses,” said Andrew N. Liveris, Dow’s chairman and chief executive officer. “His impressive global business perspective makes Mr. Banga a highly qualified addition to our Company’s already accomplished Board, thus benefiting Dow as we further advance our strategic agenda and drive growth in attractive downstream markets and fast-growing regions of the world.”
Banga is a member of the Council on Foreign Relations, The Economic Club of New York and the Financial Services Roundtable. He is also an Executive Committee member of the Business Roundtable.
For a complete list of Dow’s board members, committee assignments and other corporate governance information, visit our Corporate Governance web site.
Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world's most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow's diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2012, Dow had annual sales of approximately $57 billion and employed approximately 54,000 people worldwide. The Company's more than 5,000 products are manufactured at 188 sites in 36 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.
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