Buyout drama at Dow Chemical gets personal
Recall that Romeo Kreinberg, a top executive at Dow Chemical, and a board member, J. Pedro Reinhard, were fired by the CEO in what was portrayed as an unauthorized attempt to arrange a buyout. Well, they turned around and sued the company for defamation, which sued them back. It's a tangled web, but what seems clear is that Kreinberg and Reinhard had really clashed with the CEO Andrew Liveris. What makes this even more intriguing is that Liveris was apparently tipped off to the backroom dealing by none other than Jaime Dimon, the CEO of JPMorgan Chase. The key meeting seems to have occurred in February in London, where the two Dow Chemical officials met with JPMorgan Chase bankers. This is bizarre.
For more:
- here's the New York Times article




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