William S. Stavropoulos | |
|---|---|
 | |
| Born | 12 May 1939 Southampton, NY, United States |
| Alma mater |
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| Occupation | Chairman of Michigan Baseball Foundation |
| Predecessor | Frank Popoff |
| Successor | Andrew Liveris |
| Spouse | Linda Stavropoulos |
| Children | Bill and Angela Stavropoulos |
William Spyros Stavropoulos (born 12 May 1939) is a Greek-American businessman and philanthropist. He is the past CEO and Chairman of The Dow Chemical Company, and the current CEO and Chairman of the Michigan Baseball Foundation. [1]
Stavropoulos was born in 1939 in Southampton, New York. The son of Greek immigrants, he grew up in the nearby town of Bridgehampton, where his family owned and operated a very popular ice cream parlor and eatery – The Bridgehampton Candy Kitchen. [2] He attended Bridgehampton School, where he excelled both academically and athletically. One of the sixteen students in his high school graduating class was his close boyhood friend Carl Yastrzemski, a future Hall of Fame baseball star. [3] [4]
Stavropoulos received a B.S. degree in pharmacy from Fordham University in New York City in 1961 and a Ph.D. in medicinal chemistry in 1966 from University of Washington in Seattle, Washington. [5]
In 1967 he joined the Dow Chemical Company as a researcher and was first assigned to Dow's pharmaceutical research labs in Indianapolis, Indiana. Stavropoulos, however, soon had the opportunity to become more involved in the business aspect of the company. He left the research lab and in 1973 became research manager of Dow's diagnostics products business. In 1977, he was promoted to business manager of Dow's polyolefins division, and over the next decade, he moved up the corporate ranks, assuming increasingly more responsible managerial and executive positions, including serving as president of Dow Latin America (1984-1985), and eventually rose to the position of president and chief operating office of Dow corporate in 1993. [6] [7]
At the start of the 1990s, Dow's executive leadership concluded that the company needed to undergo a radical transformation if it were to take advantage of the opportunities and face the challenges being created by the emergence of an integrated global economy. In 1995 Stavropoulos was tapped by Dow's Board of Directors to become the company's CEO, effective 1 November, and to lead the global makeover of the firm. As president of Dow USA since 1990, he had already been changing Dow's United States operations, and his performance was a prelude to the changes to the company he would implement worldwide.
During Stavropoulos's tenure as CEO, Dow Chemical Company underwent a major transformation, [8] the centerpiece of which was a total restructuring of the company. Dow’s division into largely autonomous geographic units was replaced by an organizational structure based on fifteen global businesses and ten global functional units. Hand in hand with this, Dow introduced a new performance review system that aimed to encourage accountability, and it greatly expanded its capacity in information technology ― most notably, a global company-wide intranet was established to which all employees were given access. [9] [10] [11] As part of its transformation strategy, Dow divested itself of ventures that were no longer competitive or did not fit well with the company's strengths, e.g., its consumer products operation (DowBrands). At the same time, it invested $18 billion to acquire businesses. These acquisitions either expanded Dow's base in specialty chemicals and industrial biotech, or they positioned Dow in new geographies. [12] [13]
During Stavropoulos's tenure as CEO Dow's productivity improved, its stock price increased significantly, and the company became less dependent on the sale of commodity chemicals, which made it less subject to the cyclicality of the commodity chemical market. [14] [15] [16]
As CEO, Stavropoulos led the effort to increase and publicize Dow's commitment to environmental protection and workplace safety. In 1995 the company pledged $1 billion to achieving ten-year environmental, health, and safety goals. A company-wide campaign engaged all employees in the campaign to reduce accidents, effluents, emissions, and use of energy and water. [17] [18] [19] [20]
In November 2000, Stavropoulos stepped down as Dow's CEO and became company chairman. [21] However, at the end of 2002, he was asked by Dow's Board of Directors to return as CEO, a request he accepted. He then worked with Dow's executive leadership team to devise and implement a sequence of actions that put the company back on strong financial footing. [22] [23] [24] [25] [26] At the end of 2004, Stavropoulos once again bowed out as head of Dow. He remained Chairman of the company until March 2006.
In 2005, Stavropoulos took the lead in bringing minor league baseball to Midland, Michigan, [27] which is where Dow is headquartered. Together with the heads of several Midland foundations and companies, he established the Michigan Baseball Foundation (MBF)—a 501 (c) (3) non-profit organization. In December 2005, MBF purchased a minor league baseball team (the Devil Rays of Battle Creek, Michigan. In 2006, the founders of MBF established Michigan Baseball Operations—a taxable non-profit—to which they transferred ownership of the ball club. The Devil Rays became the Great Lakes Loons of Midland, Michigan in 2007. [28]
From 2006 to 2007, MBF built a baseball stadium in downtown Midland (the Dow Diamond), which serves as the home field of the Great Lakes Loons. Both MBF and MBO operate as 'social enterprises' that invest their earnings back into the community, in the form of donations to non-profits, as seed money for ventures that improve the community, or to catalyze local entrepreneurship. Stavropoulos serves as chairman of both entities.
Together with his wife Linda, Stavropoulos established the Bill and Linda Stavropoulos Family Foundation, which donates to educational, religious, civic, recreational, and cultural non-profits. [29] Linda serves as president of the Foundation. [5]
William Stavropoulos has served on University of Notre Dame’s College of Science Advisory Council since 1988. [5]
In 2016, the Bill and Linda Stavropoulos Family Foundation funded the establishment of The Stavropoulos Center for Interdisciplinary Biophysics at Notre Dame. [5] [30]
Stavropoulos married Linda Theofel in 1967. Together they currently maintain residences in Midland, Michigan and Naples, Florida. The couple have two children, Bill and Angela, and six grandchildren, Nina, Samantha, Lily, Kristina, Billy, and Joseph. [5] [31]
Midland is a city in and the county seat of Midland County, Michigan, in the United States. The city's population was 42,547 as of the 2020 census. It is the principal city of the Midland Metropolitan Statistical Area, part of the larger Saginaw-Midland-Bay City Combined Statistical Area. The city is bordered by Midland Township, though the two are administered separately.
The Dow Chemical Company is an American multinational corporation headquartered in Midland, Michigan, United States. The company was among the three largest chemical producers in the world in 2021. It is the operating subsidiary of Dow Inc., a publicly traded holding company incorporated under Delaware law.
The Great Lakes Loons are a Minor League Baseball team of the Midwest League and the High-A affiliate of the Los Angeles Dodgers. They are located in Midland, Michigan, and play their home games at Dow Diamond, which opened in April 2007.
Herbert Henry Dow was an American chemical industrialist who founded the American multinational conglomerate Dow Chemical. A graduate of the Case School of Applied Science in Cleveland, Ohio, he was a prolific inventor of chemical processes, compounds, and products, notably bromine extraction from sea water, and was a successful businessman.
Dow Corning Corporation, was an American multinational corporation headquartered in Midland, Michigan, United States, and was originally established as a joint venture between The Dow Chemical Company and Corning Incorporated. In 2016, Dow bought out Corning, making Dow Corning a 100% Dow subsidiary. After a brief existence as a DowDuPont-owned company, Dow spun out from DowDuPont on April 1, 2019. The new company, Dow Silicones Corporation, which is wholly owned by Dow, specializes in silicone and silicon-based technology, and is the largest silicone product producer in the world.
Frank Popoff or Frank Popov was a Bulgarian and American businessman. He served as the chairman of TCF Financial Corporation from April 2004.
Alden B. Dow, an architect based in Midland, Michigan, was renowned for his contributions to the Michigan Modern style. Beginning in the 1930s, he designed more than 70 residences and dozens of churches, schools, civic and art centers, and commercial buildings during his 30+ year career. The Midland Center for the Arts, the 1950s Grace A. Dow Memorial Library, his many contributions to Dow Gardens and his former residence, the Alden Dow House and Studio, are among the numerous examples of his work located in his hometown of Midland, Michigan. He is the son of industrialist Herbert Dow, the founder of the Dow Chemical Company, and his wife, philanthropist Grace A. Dow who in 1936 founded The Herbert H. and Grace A. Dow Foundation in memory of her husband. Dow is known for his prolific and striking Modernist architectural designs.
Geoffery E. Merszei is a Canadian businessman. He served as the chief financial officer until 2010, and is currently the executive vice president of Dow Chemical Company until 2013.
Dow Diamond is a Minor League baseball stadium located in Midland, Michigan. It is the home of the Great Lakes Loons of the Midwest League. The Loons are affiliated with the Los Angeles Dodgers.
Andrew N. Liveris is an Australian former CEO and chairman of The Dow Chemical Company of Midland, Michigan. Liveris served as a member of Dow's board of directors since February 2004, CEO since November 2004 and was elected as chairman of the board effective 1 April 2006. Liveris became CEO in 2004 after holding the position of chief operating officer (COO). Afterwards he served as executive chairman of DowDuPont. He is chairman of the board of Lucid Motors.
WLUN is a commercial radio station licensed to Pinconning, Michigan. The station broadcasts a Sports radio format. It is owned by the Michigan Baseball Foundation, owner of the Great Lakes Loons, with studios at Dow Diamond in Midland, Michigan.
The Midland Community Center (MCC) is a nearly 200,000 sq ft (19,000 m2) complex on three levels in the heart of Midland, Michigan that provides comprehensive social, recreational and personal development opportunities for all residents.
The Greater Midland Community Centers, Inc. (GMCC) is a non-profit corporation in Midland, Michigan, founded in 2005 to provide guidance and assistance to five existing non-profit family and recreation centers in Midland County.
The Petrochemical Heritage Award was established in 1997, "to recognize individuals who made outstanding contributions to the petrochemical community." The award is intended to inspire achievement and to promote public understanding. The award winner is chosen annually by the Founders Club and the Science History Institute. The award is traditionally presented at the International Petrochemical Conference hosted by the American Fuel and Petrochemical Manufacturers (AFPM), formerly known as NPRA, the National Petrochemical & Refiners Association.
William C. Goggin was an American chemist, business manager and business theorist, noted for developing the concept of Multidimensional organization at Dow Corning.
Michael D. Hayes is a Republican member of the Michigan State Transportation Commission and former member of the Michigan House of Representatives.
Jeff M. Fettig is an American businessman. He is the former chairman and chief executive officer of the Whirlpool Corporation and serves on the board of directors for Dow Inc., the Indiana University Foundation, and is a PGA REACH Trustee.
James Ray Fitterling is an American business executive. He is the chairman and CEO of Dow Inc., Fitterling is vice chair of the National Association of Manufacturers, and on the boards of the American Chemistry Council and the U.S.-China Business Council. The first board-appointed out CEO of a Fortune 100 company; he was ranked the world's top LGBT executive by the Financial Times in 2018.
The Michigan Baseball Foundation (MBF) is a 501(c)(3) non-profit organization in Midland, Michigan, that refers to itself as a social enterprise. MBF is the current owner and operator of the Dow Diamond – a baseball stadium located in downtown Midland. Profits from the operation of the Dow Diamond are donated to youth groups and to initiatives that seek to improve life in Midland and its surrounding areas.
John Bartos is the founder and former president of Three Rivers Construction, the largest privately held construction company in Mid-Michigan. For forty years he has also been active in construction education and community involvement.
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