BUSINESS

Liveris probe uncovers perks that weren't properly disclosed

TAGS: Business

A three-year US Securities and Exchange Commission investigation found that Dow Chemical failed to properly disclose around $3 million in perks for former chief executive Andrew Liveris, ranging from personal use of company aircraft to sporting events and dues Dow paid to a charity Liveris chaired.

Liveris, who led Dow for nearly 15 years, stepped down in April from the role of executive chairman at the newly combined chemicals giant DowDuPont Inc.

He retired as chairman and CEO of Dow effective Saturday, when he also left DowDuPont’s board.

Among the items flagged were personal vacations Liveris took with family using Dow aircraft, and Dow’s financial support for the Hellenic Initiative, a Greek charity Liveris had co-founded.

[Reuters]

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