MIDLAND, Mich. — Dow on Tuesday appointed Chief Operating Officer Karen S. Carter as its next chief executive officer, effective July 1, in a planned succession that will make her the first woman and first person of color to lead the Midland-based materials science company.
Current Chairman and CEO Jim Fitterling will transition to executive chair on July 1, while Carter will also join Dow’s board of directors. Richard Davis will continue serving as independent lead director. Dow said the move follows a multi-year succession planning process intended to ensure leadership continuity.
The leadership change comes as Dow navigates a prolonged downturn in the global chemicals sector. In January, the company announced plans to cut about 4,500 jobs worldwide, or roughly 13% of its workforce, as part of a restructuring aimed at streamlining operations and improving efficiency. Dow said the actions are expected to deliver about $2 billion in near-term earnings, with severance costs estimated between $600 million and $800 million.
“Jim has led the company through a period of significant transformation while strengthening Dow’s strategy, culture and long-term positioning,” Davis said in a statement. He added that the board has strong confidence in Carter’s leadership.
Fitterling, who has served as CEO since 2018 and board chair since 2020, led Dow through its separation from DowDuPont and helped reposition the company toward higher-growth, demand-driven markets. His tenure also included sustainability initiatives and efforts to strengthen operational discipline during a period marked by macroeconomic and geopolitical pressure.
In his new role, Fitterling will continue to chair the board and focus on long-term strategy, governance and external relationships while supporting the leadership transition.
“Serving as CEO of Dow has been the privilege of a lifetime,” Fitterling said in a statement.
Carter, a more than 30-year Dow veteran, currently oversees global operations as chief operating officer. She previously led Dow’s Packaging & Specialty Plastics segment, where the company said she focused on capacity expansion, reliability improvements and customer partnerships, including circular economy initiatives.
“I am deeply honored to assume the role of CEO and lead Dow into our next chapter,” Carter said in a statement, pointing to innovation, operational discipline and long-term value creation as key priorities.
Dow operates in 29 countries, employs about 34,600 people and reported approximately $40 billion in sales in 2025.
