Dow Facts Refute Reuters Allegations
Over the last many months, Reuters news agency has recycled old allegations about Dow, our charitable contributions, investments that we have made in our communities, and our customer and business event expense processes. These matters are not new: they have been thoroughly and independently investigated and resolved and have been in the public record for several years.
We have worked diligently and in good faith with the news agency to answer their questions – including providing comprehensive, detailed facts on each of these topics and provided independent, third-party reports. Despite our best efforts, the agency has been unrelenting in their sensationalized reporting on this subject.
There is no explanation for Reuters' actions other than the fact that this is a reckless attempt by the news agency to undermine Dow – as well as our CEO and many of our employees – without justification or merit.
In the spirit of transparency, this site includes the responses and information Dow has shared with Reuters, aligned to the agency’s inquiries and addresses comprehensively the matters they have raised.
At Dow, we hold ourselves to the highest standards of integrity, transparency and business ethics. Every action the Company takes is done in the best interest of our customers, communities, employees and shareholders.
Dow supports numerous charities, both directly and indirectly through the Dow Foundation. Dow’s philanthropic activities can be found all over the world in areas where Dow employees and customers live and work. In total, Dow donates approximately $50 million per year to civic and charitable organizations around the world. The Hellenic Initiative, the Clinton Global Initiative, and The Prinkipos World Environmental Center are just a few of more than 1,000 charitable organizations Dow supports.
CUSTOMER EVENTS & EXECUTIVE EXPENSES
Dow disclosed in its 2011 Proxy filing an expense matter that was discovered during a routine internal audit. The discovery led to a full internal and external investigation, resulting in full resolution of the matter and improved control mechanisms. Dow has a rigorous review process in place centered on internal investigations that ensure that credible allegations are thoroughly investigated and this process involves independent oversight. Procedures and policies around expenses, including those of the executive leadership team, are consistently reviewed and approved by the Audit Committee of the Board of Directors to ensure they are in full compliance with all regulatory requirements, and to maximize value for all shareholders.
Dow is committed to the continued collaboration with the City of Midland to invest in making downtown Midland a great destination – enabling Dow and the community to compete for business and talent and providing valuable amenities for residents. The H Hotel is a great example of this collaboration and is the home of the H.H. Dow Learning Academy, which helps prepare Dow’s future leaders. The findings of a 2009 report are clear that all actions regarding the renovation project were done in strict accordance with The Dow Code of Business Conduct.